June 8, 2020 / 10:16 AM / a month ago

PG&E expects to raise $5.75 bln from public offerings to fund bankruptcy exit

June 8 (Reuters) - Power provider PG&E Corp said on Monday it plans to raise $5.75 billion from public offerings to partially fund its emergence from Chapter 11 bankruptcy.

Separately, the company said investors, including Appaloosa and Third Point, have agreed to purchase up to $3.25 billion of its stock once the company exits bankruptcy. (Reporting by Arundhati Sarkar in Bengaluru; Editing by Sriraj Kalluvila)

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