From Earlier: Pepco Holdings Announces Pricing of 15.58M Share Offering at $19.25

Pepco Holdings, Inc.

announced yesterday that it has priced an offering of 15,584,415 shares of its common stock at $19.25 per share. For a period of 30 days following the offering, the underwriters of the offering have been granted an option to purchase up to an additional 2,337,662 shares of the Company's common stock solely to cover over-allotments, if any. Subject to certain conditions, all shares are being offered in connection with the execution by the Company of one or more forward sale agreements described below. The Company intends to use any net proceeds that it receives upon any issuance and sale to the underwriters of shares of its common stock in the offering or upon settlement of the forward sale agreement(s) described below to make capital contributions to its utility subsidiaries, to repay short-term debt obligations, to fund working capital needs and for other general corporate purposes.