8-KOther EventsExhibits & Filings

EDISON INTERNATIONAL 8-K Report, Corporate Update (Oct 11, 2023)

Filed October 11, 2023For Securities:EIX

Summary

Edison International (EIX) announced on October 11, 2023, that it has commenced tender offers to repurchase up to an aggregate of $750 million of its outstanding Series B and Series A Cumulative Perpetual Preferred Stock. These offers represent a significant capital allocation decision, allowing the company to manage its preferred stock obligations and potentially reduce future dividend payments. The tender offers are set to expire on November 8, 2023, unless extended or terminated by the company. Investors in these preferred stock series should carefully review the terms and conditions of the tender offers, which have been filed with the SEC. While the company has not made a recommendation regarding tendering shares, this action provides an opportunity for holders to sell their preferred stock back to Edison International. The aggregate purchase price includes the principal amount plus any accrued and unpaid dividends.

Key Highlights

  • 1Edison International launched tender offers for its Series B and Series A Cumulative Perpetual Preferred Stock.
  • 2The company is looking to repurchase these preferred stocks for an aggregate cash purchase price of up to $750 million.
  • 3The tender offers include accrued and unpaid dividends in addition to the principal amount.
  • 4The expiration date for the tender offers is November 8, 2023, unless extended or terminated.
  • 5Edison International filed a tender offer statement (Schedule TO) with the SEC, which includes detailed terms and conditions.
  • 6The company has not provided a recommendation to investors on whether to tender their shares.
  • 7Investors can access tender offer documents, including the offer to purchase and letter of transmittal, through the SEC's website or the information agent.

Frequently Asked Questions

Edison International has initiated tender offers to purchase up to $750 million of its outstanding Series B and Series A Cumulative Perpetual Preferred Stock. This means they are offering to buy back these shares from current holders.

The tender offers are scheduled to expire on November 8, 2023, at 8:00 a.m. New York City time. However, Edison International reserves the right to extend or terminate the offers before this date.

The company plans to purchase the shares for an aggregate cash price of up to $750 million, which will include the principal amount of the preferred stock plus any accrued and unpaid dividends. The exact price per share will be detailed in the official offer to purchase documents.

Edison International has stated that neither the company nor its directors make any recommendation as to whether shareholders should tender their shares. Investors should carefully review the offer materials and consider their own investment objectives before deciding.