11:08 AM EDT, 05/07/2024 (MT Newswires) -- Dominion Energy ( D ) said Tuesday it has launched a tender offer to purchase for cash any and all of its outstanding 4.65% series B fixed-rate reset cumulative redeemable perpetual preferred stock at a purchase price of $997.50 per share, plus accrued dividends.

The offer will expire on June 5, unless the company extends or terminates the offer.

The company said it plans to use a portion of the net proceeds from its public offering of $2 billion of junior subordinated notes to pay the consideration payable, as well as the fees and expenses related to the cash tender offer.

Shares of the company rose 1.5% in recent trading.

Price: 52.16, Change: +0.75, Percent Change: +1.45