Seeking Alpha

Dominion plans 18M-unit offering

Dominion (D) says it plans to offer to sell 18M equity units; each unit will be issued in a stated amount of $50 and will consist of a contract to purchase common stock in the future and a 1/20 undivided beneficial ownership interest in a re-marketable subordinated note having a principal amount of $1,000.

D says it intends to use the proceeds for general corporate purposes and to fund its growth plan, including the Cove Point liquefaction project.

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Comments (7)
  • Bob Holz
    , contributor
    Comments (3) | Send Message
    ok - I'll play dumb. Can anyone explain what exactly D's offer is in
    plain English? I'm a retired CPA and self directed investor for 30+
    years and I've never heard of this type of investment before.
    24 Jun 2014, 06:29 PM Reply Like
  • Holthusen
    , contributor
    Comments (691) | Send Message
    I'm a retired Engineer so I'm no help at all, but your comment made me laugh out loud.


    Let's call it A Bondstock!
    24 Jun 2014, 09:38 PM Reply Like
  • philip barclay
    , contributor
    Comments (3) | Send Message
    I was a broker for 25 years and never heard of an animal like this either--sounds maybe like a bond with some warrants or options attached.
    24 Jun 2014, 11:14 PM Reply Like
  • Fi-Slut
    , contributor
    Comments (284) | Send Message
    you go, guys!


    Long D....
    25 Jun 2014, 01:11 AM Reply Like
  • devlau20
    , contributor
    Comments (409) | Send Message
    I'm an attorney of 35 years & this is indecipherable. For current shareholders this has to dilute the value of our stock. I don't recall seeing this in any Proxy statement!!!
    25 Jun 2014, 01:45 AM Reply Like
  • mswoope
    , contributor
    Comments (57) | Send Message
    I have to say it could increase the value of the stock if the funded growth and the cove point project generates more income.
    25 Jun 2014, 01:49 PM Reply Like
  • devlau20
    , contributor
    Comments (409) | Send Message
    2 Gigantic Unknowns! With the decision today by FERC to allow the export is distillates & condensates, everything is up for grabs. Cove Point….who knows? I don't like the smell of this cumbersome methodology of issuing new shares to cover the huge cash layout for Cove Point.
    25 Jun 2014, 08:37 PM Reply Like
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