ARLINGTON, Va., Feb. 14,
2024 /PRNewswire/ -- The AES Corporation (NYSE:
AES) ("AES" or the "Company") announced today the unsuccessful
final remarketing of its 0% Series A Cumulative Perpetual
Convertible Preferred Stock, no par value, with a liquidation
preference of $1,000 per share (the
"Convertible Preferred Stock"), originally issued on March 11, 2021 as part of the Company's equity
units (the "2021 Equity Units") and the settlement rate of the
purchase contracts that form part of its corporate units (the
"Corporate Units").
Each holder of a Corporate Unit will receive 3.8859 shares (the
"Settlement Rate") of AES common stock with cash to be paid in lieu
of any fractional share. The Settlement Rate was determined based
upon the daily volume weighted average of AES' common stock
over a consecutive 20-day trading period ending on February 13, 2024.
As of February 15, 2024, holders
of the Convertible Preferred Stock that is a component of
the 2021 Equity Units will be deemed to have delivered,
automatically and without requiring any additional action on their
part, their Convertible Preferred Stock to AES to satisfy in full
their obligations to pay the purchase price for the AES common
stock to be delivered upon settlement of the purchase contract
component of their 2021 Equity Units.
About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global energy
company accelerating the future of energy. Together with our many
stakeholders, we're improving lives by delivering the greener,
smarter energy solutions the world needs. Our diverse workforce is
committed to continuous innovation and operational excellence,
while partnering with our customers on their strategic energy
transitions and continuing to meet their energy needs today. For
more information, visit www.aes.com.
Safe Harbor Disclosure
This news release contains forward-looking statements within the
meaning of the Securities Act of 1933 and of the Securities
Exchange Act of 1934. Such forward-looking statements include, but
are not limited to, those related to future earnings, growth and
financial and operating performance. Forward-looking statements are
not intended to be a guarantee of future results, but instead
constitute AES' current expectations based on reasonable
assumptions. Forecasted financial information is based on certain
material assumptions. These assumptions include, but are not
limited to, our expectations regarding accurate projections of
future interest rates, commodity price and foreign currency
pricing, continued normal levels of operating performance and
electricity volume at our distribution companies and operational
performance at our generation businesses consistent with historical
levels, as well as the execution of PPAs, conversion of our backlog
and growth investments at normalized investment levels, rates of
return consistent with prior experience and the COVID-19
pandemic.
Actual results could differ materially from those projected in
our forward-looking statements due to risks, uncertainties and
other factors. Important factors that could affect actual results
are discussed in AES' filings with the Securities and Exchange
Commission (the "SEC"), including, but not limited to, the risks
discussed under Item 1A: "Risk Factors" and Item 7: "Management's
Discussion & Analysis" in AES' 2022 Annual Report on Form 10-K
and in subsequent reports filed with the SEC. Readers are
encouraged to read AES' filings to learn more about the risk
factors associated with AES' business. AES undertakes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except where
required by law.
Any Stockholder who desires a copy of the Company's 2022 Annual
Report on Form 10-K filed March 1,
2023 with the SEC may obtain a copy (excluding the exhibits
thereto) without charge by addressing a request to the Office of
the Corporate Secretary, The AES Corporation, 4300 Wilson
Boulevard, Arlington, Virginia
22203. Exhibits also may be requested, but a charge equal to the
reproduction cost thereof will be made. A copy of the Annual Report
on Form 10-K may be obtained by visiting the Company's website at
www.aes.com.
Website Disclosure
AES uses its website, including its quarterly updates, as
channels of distribution of Company information. The
information AES posts through these channels may be deemed
material. Accordingly, investors should monitor our website, in
addition to following AES' press releases, quarterly SEC
filings and public conference calls and webcasts. In addition, you
may automatically receive e-mail alerts and other information
about AES when you enroll your e-mail address by visiting the
"Subscribe to Alerts" page of AES' Investors website. The contents
of AES' website, including its quarterly updates, are not,
however, incorporated by reference into this release.
Investor Relations: Susan
Harcourt 703-682-1204, susan.harcourt@aes.com
Media Contact: Amy Ackerman 703-682-6399,
amy.ackerman@aes.com
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SOURCE The AES Corporation
