HAWAIIAN ELECTRIC INDUSTRIES INC (HE): Other Events
HAWAIIAN ELECTRIC INDUSTRIES INC (HE) filed an SEC Form 8-K — Other Events. Exhibit 99 NEWS RELEASE September 21, 2026 Contact: Mateo Garcia Telephone: (808) 543-7300 Director, Investor Relations E-mail: ir@hei.com HEI BEGINS MONETIZING ASB SHARES, ENABLING ADVANCE FUNDING OF MAUI WILDFIRE SETTLEMENT HONOLULU - On September 16, 2026, Hawaiian Electric In
How this was made
The 30-second read
Why it matters
The proceeds lower HE's financing needs for ongoing Maui wildfire settlement obligations, potentially improving credit metrics.
Market read
Primary disclosure of a cash‑raising transaction that modestly strengthens HE's balance sheet and reduces future financing risk.
What to watch
Lock‑up on remaining ASB shares limits immediate upside; future market conditions will dictate further monetization.
Background
HE filed an 8‑K reporting the sale of a portion of its stake in ASB following the bank's IPO, generating $29.5 M cash.
Ticker impact
HE monetized 30% of its 9.9% stake in American Savings Bank, raising $29.5 million in cash to fund Maui wildfire settlement payments.
Potential modest upside as investors view reduced financing risk, though size is limited.
New primary disclosure of a sizable cash inflow directly affects balance sheet and settlement funding needs.
Market effects
Utility sector may see reduced credit concerns for HE, but limited spillover to peers.
Hawaiian market perception improves with stronger utility balance sheet.
Minimal; event is company‑specific.
Counterpoint
The cash raise is modest relative to settlement size; market may already price in the liquidity benefit.
Key entities
- companyHawaiian Electric Industries Inc.
Utility company listed on NYSE (HE).
- companyAmerican Savings Bank, N.A.
Bank listed on NYSE (ASBH) whose shares were partially sold by HE.

