Black Hills Corp. Announces Completion of 2024 Equity Issuances
Black Hills Corp. (NYSE: BKH) has successfully executed a block equity trade as part of its at-the-market (“ATM”) equity offering program, effectively meeting its equity needs for the year 2024.
This year, the company has raised net proceeds totaling $181.6 million from the issuance of 3.3 million shares. These funds will be allocated towards financing significant capital expenditure projects and fulfilling other general corporate purposes. The completion of this equity issuance is in line with the company’s previously outlined equity requirements for 2024, which are projected to be between $170 million and $190 million.
"Addressing our equity requirements for 2024 is crucial as it underpins the execution of our long-term strategic plan," said Linn Evans, president and CEO of Black Hills Corp. "The capital we have raised will be directed towards our growth initiatives, including the Ready Wyoming electric transmission expansion project, along with other essential safety and integrity investments that aim to deliver safe, reliable, and cost-effective energy solutions to our customers."
About Black Hills Corporation
Black Hills Corp. (NYSE: BKH) is a utility company committed to customer satisfaction and growth. The company strives to enhance quality of life through energy and aims to be the preferred energy partner. Based in Rapid City, South Dakota, Black Hills Corp. serves around 1.34 million natural gas and electric utility customers across eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming. This broad reach enables the company to positively impact a diverse range of customers with its dependable services.
Contact Information
For inquiries related to investor relations, please reach out to:
Sal Diaz
605-399-5079
investorrelations@blackhillscorp.com
For media inquiries, you can contact 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 is intended to meet Black Hills Corp.'s capital expenditure needs and support general corporate activities.
2. How much capital did Black Hills Corp. raise through the recent equity issuance?
The company successfully 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 be used to support growth initiatives, including the Ready Wyoming electric transmission expansion project and investments focused on 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, you can contact Sal Diaz at 605-399-5079 or via email at investorrelations@blackhillscorp.com. For media inquiries, please call the 24-Hour Media Relations Line at 888-242-3969.
