Allegheny Energy Announces Plans to Issue 10,000,000 Common Shares.Business Editors HAGERSTOWN, Md.--(BUSINESS WIRE)--April 9, 2001 Allegheny Energy Allegheny Energy (NYSE: AYE) is a traditional public utility based in the Pittsburgh suburb of Greensburg. It services communities in Western Pennsylvania, Western Maryland, Northern West Virginia, Northwest Virginia. , Inc. (NYSE NYSE See: New York Stock Exchange : AYE) today announced its intent to issue approximately 10,000,000 shares of common stock. The offering is expected to be concluded by early May 2001. All or a portion of the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the transaction will be used to fund the acquisition of generating facilities. Any proceeds not used in the acquisition of these generating facilities will be used for general corporate purposes. The joint book-running managers are Goldman, Sachs & Co. and Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co., with co-managers Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , JP Morgan, Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , and SunTrust Equitable Securities. The underwriters also will have a 30-day option to purchase up to 1,500,000 additional shares to cover any over-allotments of shares. This offering will be made by a prospectus only. A copy of the prospectus may be obtained from the underwriters. This notice shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these shares of common stock in any state in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. An S&P 500 company, Allegheny Energy, Inc. is a diversified energy company headquartered in Hagerstown, Md. The Allegheny Energy family includes Allegheny Power, which delivers electric energy and natural gas to about three million people in parts of Maryland, Ohio, Pennsylvania, Virginia, and West Virginia; Allegheny Energy Supply Company, LLC, which owns, operates, and markets competitive retail and wholesale electric generation; and Allegheny Ventures, which actively invests in and develops telecommunications and energy-related projects. Certain statements within constitute forward-looking statements with respect to Allegheny Energy, Inc. ("AYE" or the "Company"). Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance or achievements of AYE to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors may affect AYE's operations, markets, products, services, and prices. Such factors include, among others, the following: weather and natural phenomena; general and economic and business conditions; industry capacity; changes in technology; changes in political, social, and economic conditions; changes in the price of electricity and gas; changes in environmental and other laws; regulatory matters; litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. involving AYE; regulatory conditions applicable to AYE; the loss of any significant customers; and changes in business strategy or development plans. |
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