The Empire District Electric Company (“Empire”) announced today that it has entered into an equity distribution agreement (“Agreement”) with UBS Securities LLC (“UBS"). Under the terms of the agreement, Empire may offer and sell shares of its common stock, par value $1.00 per share, having an aggregate offering price of up to $60,000,000 from time to time through UBS, as sales agent.
Any sales of the shares pursuant to the equity distribution agreement will be made by means of ordinary brokers' transactions on the New York Stock Exchange at market prices or as otherwise agreed with UBS. Under the terms of the program agreement, Empire may also sell shares to UBS as principal for UBS' own account at a price agreed upon at the time of sale. The shares will be offered under a prospectus supplement describing the program dated February 25, 2009, which was filed pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (“SEC”).
Funds raised from this program will be used to repay short-term debt and for general corporate purposes, including to fund our current construction program.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any shares of Empire’s common stock. Any offer will be made only by means of a prospectus, including a prospectus supplement, forming a part of Empire’s effective shelf registration statement. A copy of the prospectus supplement and prospectus relating to the offering through the equity distribution program may be obtained by contacting UBS Investment Bank, Attn: Prospectus Department, 299 Park Ave, New York, NY 10171 or by telephoning toll free (888) 827-7275.
Based in Joplin, Missouri, The Empire District Electric Company (NYSE:EDE) is an investor-owned utility providing electricity, natural gas (through its wholly owned subsidiary The Empire District Gas Company) and water service, with approximately 216,000 customers in Missouri, Kansas, Oklahoma, and Arkansas. A subsidiary of Empire also provides fiber optic services.
Certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995.Such statements address future plans, objectives, expectations, and events or conditions concerning various matters.Actual results in each case could differ materially from those currently anticipated in such statements, by reason of the factors noted in our filings with the SEC, including the most recent Form 10-K.
Contacts:
The Empire District Electric Company
Media
Communications
Amy Bass, 417-625-5114
Director of
Corporate Communications
abass@empiredistrict.com
or
Investor
Relations
Jan Watson, 417-625-5108
Secretary - Treasurer
jwatson@empiredistrict.com