GPU Sells 7 Million Shares of Common Stock.MORRISTOWN, NJ--(BUSINESS WIRE)--Feb. 19, 1998--GPU, Inc., (NYSE NYSE See: New York Stock Exchange :GPU GPU: see secret police. (Graphics Processing Unit) A specialized logic chip devoted to rendering 2D or 3D images. Display adapters contain one or more GPUs for fast graphics rendering. ) today sold 7 million shares of common stock under a purchase agreement with a group of underwriters, resulting in 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 $269,447,500. The underwriting syndicate Underwriting syndicate A group of investment banks that work together to sell new security offerings to investors. The underwriting syndicate is led by the lead underwriter. See also: Lead underwriter. underwriting syndicate See syndicate. , led by Goldman, Sachs & Co., together with Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. Incorporated, has purchased the 7 million shares at a price of $39.562 per share, or an aggregate purchase price of $276,937,500. GPU, Inc., is a registered utility holding company. Its three domestic electric utility subsidiaries, Jersey Central Power & Light Company, Metropolitan Edison Company and Pennsylvania Electric Company, doing business as GPU Energy, provide electric service to 2 million customers in New Jersey and Pennsylvania. GPU also owns the GPU International Group, which develops, owns, operates and invests in generation, transmission and distribution facilities domestically and abroad. Other subsidiaries are GPU Generation, which operates GPU's fossil-fueled and hydroelectric stations; GPU Nuclear, which operates two nuclear power stations This is a list of major nuclear power plants in all countries in the world. This is an incomplete list. You can help Name of power station Installed capacity in MW Country Atucha I nuclear power plant 357 Argentina , and GPU Service. CONTACT: Ron Morano, 973/644-4297 Pager 973/605-7900 |
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