04:02 AM EDT, 09/24/2024 (MT Newswires) -- Hawaiian Electric Industries ( HE ) said late Monday it has priced a public offering of about 54.1 million shares of its common stock at $9.25 each.

The offering is expected to close on Wednesday, subject to customary conditions.

The company has granted underwriters an option to purchase up to 8.1 million additional shares.

Hawaiian Electric said it plans to use net proceeds from the offering to fund its contribution to the expected Maui wildfire settlement and for general corporate purposes.

Price: 9.84, Change: -1.06, Percent Change: -9.72