Black Hills Corp. Successfully Completes 2024 Equity Offering
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Black Hills Corp. Completes 2024 Equity Issuances
Black Hills Corp. (NYSE: BKH) has announced the successful execution of a block equity trade through its at-the-market (“ATM”) equity offering program, effectively addressing its equity needs for the year 2024.
This year, the company has achieved net proceeds of $181.6 million from the issuance of 3.3 million shares. The funds will be utilized for financing major capital expenditure projects as well as other general corporate purposes. The completion of this equity issuance aligns with the company’s previously stated equity requirements for 2024, which are estimated to be between $170 million and $190 million.
"Meeting our equity requirements for 2024 is vital as it supports the implementation of our long-term strategic plan," stated Linn Evans, president and CEO of Black Hills Corp. "The capital raised will be invested in our growth initiatives, including the Ready Wyoming electric transmission expansion project, and other crucial safety and integrity investments aimed at providing safe, reliable, and cost-effective energy solutions for our customers."
About Black Hills Corporation
Black Hills Corp. (NYSE: BKH) is a utility company dedicated to customer satisfaction and growth. The company has a strong commitment to enhancing life through energy and aspires to be the energy partner of choice. Headquartered in Rapid City, South Dakota, Black Hills Corp. serves approximately 1.34 million natural gas and electric utility customers across eight states which include Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming. This extensive reach allows the company to impact a diverse customer base with its reliable services.
Contact Information
For investor relations inquiries, please contact:
Sal Diaz
605-399-5079
investorrelations@blackhillscorp.com
For media inquiries, you can reach the 24-Hour Media Relations Line at:
888-242-3969
Frequently Asked Questions
1. What is the purpose of Black Hills Corp.'s equity issuance in 2024?
The equity issuance aims to fulfill Black Hills Corp.'s capital expenditure requirements and support general corporate needs.
2. How much capital did Black Hills Corp. raise through the recent equity issuance?
The company raised net proceeds of $181.6 million from the issuance of 3.3 million shares.
3. What strategic projects will the raised funds support?
The funds will support growth initiatives, including the Ready Wyoming electric transmission expansion project and investments in safety and integrity.
4. How many customers does Black Hills Corp. serve?
Black Hills Corp. serves approximately 1.34 million natural gas and electric utility customers across eight states.
5. Who can I contact for more information about Black Hills Corp.?
For investor relations, contact Sal Diaz at 605-399-5079 or via email at investorrelations@blackhillscorp.com. For media inquiries, call the 24-Hour Media Relations Line at 888-242-3969.
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