Dominion Announces Plans for Public Offering of Common Stock.Business Editors/Energy Editors RICHMOND, Va.--(BUSINESS WIRE)--Oct. 14, 2002 Dominion (NYSE NYSE See: New York Stock Exchange : D) announced today that it plans a public offering of 26.5 million shares of its common stock which, at today's closing price of $39.35 on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , would amount to approximately $1 billion in gross proceeds to Dominion. In connection with the offering, the company will grant the underwriters an option for a period of 30 days to purchase up to an additional 3.975 million shares of the company's common stock to cover over-allotments. The offering will be made under one of the company's existing shelf registration statements. 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). from the offering will be used for general corporate purposes, principally repayment of debt. The joint book-running managers for the offering are Merrill Lynch & Co. and Morgan Stanley. Investors will be able to obtain a copy of the final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. relating to the offering from Merrill Lynch & Co., 4 World Financial Center, 250 Vesey Street, Ground Floor, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10080, Attention: Max Tabuzo, or from Morgan Stanley, 1585 Broadway, New York, NY 10036 Attention: Prospectus Department. Dominion has a diversified and integrated energy portfolio consisting of about 24,000-megawatts of generation, 5.7 trillion cubic feet equivalent of natural gas reserves, nearly 7,700 miles of natural gas transmission pipeline and an underground natural gas storage system with more than 960 billion cubic feet of storage capacity. Dominion also serves over 3.8 million franchise natural gas and electric customers in five states. In addition, Dominion owns a managing equity interest in Dominion Fiber Ventures LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , owner of Dominion Telecom. |
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