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

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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 (NYSE:TPRE), have agreed to purchase up to $3.25 billion of its stock once the company exits bankruptcy.

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