BOISE, Idaho, Dec. 7, 2004 (PRNewswire-FirstCall) — IDACORP, Inc. announced its plans to make a public offering of 3,500,000 shares of its common stock through underwriters. The offering will be made under the company’s effective shelf registration statement previously filed with the Securities and Exchange Commission. The company expects to offer the securities later this week. In connection with the offering, the company will grant the underwriters a 30-day option to purchase up to 525,000 additional shares solely to cover over-allotments of shares, if any. All shares are being sold by IDACORP.
Morgan Stanley & Co. Incorporated will serve as the sole bookrunner for the offering. The co-managers for this offering are Wachovia Securities, KeyBanc Capital Markets, A.G. Edwards and D.A. Davidson.
Copies of the preliminary prospectus supplement and accompanying prospectus may be obtained from the offices of Morgan Stanley & Co. Incorporated, Prospectus Department, 1585 Broadway, New York, NY 10036 (Tel. 212-353-1075).
Boise, Idaho-based IDACORP, formed in 1998, is a holding company comprised of Idaho Power Company, a regulated electric utility, providing service in southern Idaho and eastern Oregon; IdaTech, a developer and manufacturer of fuel cell systems, products and solutions; IDACORP Financial, an investment company with its primary activities in affordable housing projects; IDACOMM, a provider of telecommunications services and owner of Velocitus, a commercial and residential Internet service provider; Ida-West Energy, an operator of independent power projects; and IDACORP Energy, a marketer of electricity and natural gas that wound down its operations during 2003.
This communication shall not constitute an offer to sell or solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A shelf registration statement relating to the shares that IDACORP intends to sell has previously been filed with, and declared effective by, the Securities and Exchange Commission. Any offer, if at all, will be made only by means of a prospectus, and the related prospectus supplement, forming a part of the effective registration statement.