The Firm represented Wells Fargo Securities, LLC, Barclays Capital Inc. and Guggenheim Securities, LLC as sales agents in an SEC-registered at-the-market equity program pursuant to which shares of Hawaiian Electric Industries, Inc.’s (“HEI”) common stock having an aggregate sales price of up to $250 million may be sold from time to time.
The HEI family of companies provides the energy and financial services that empower much of the economic and community activity of Hawaii. HEI’s electric utility, Hawaiian Electric, supplies power to approximately 95% of Hawaii’s population and is undertaking an ambitious effort to decarbonize its operations and the broader state economy, and modernize and harden the grid to ensure resilience and public safety. Its banking subsidiary, ASB, is one of Hawaii’s largest financial institutions, providing a wide array of banking and other financial services and working to advance economic growth, affordability and financial fitness. HEI also helps advance Hawaii’s sustainability goals through investments by its non-regulated subsidiary, Pacific Current.
The Simpson Thacher team included Brian E. Rosenzweig, Maggie Selbe, Suzannah Ranzo and Emily Martin (Capital Markets); Jonathan Cantor, Kris Liu and Jiha Min (Tax); Tim Mulvihill (Environmental); Pasco Struhs and Hannah Daniels (Executive Compensation and Employee Benefits); Margerite Blase (Intellectual Property); and Jennie Getsin (FINRA).