March 18, 1995 in Nation/World

Sierra Pacific To Sell More Stock

From Staff And Wire Reports
 

Sierra Pacific Resources, which plans to merge with Washinton Water Power Co., has filed documents for the sale of 1 million shares of common stock.

The additional shares will not affect the rate of exchange for stock in the new utility - Resources West Energy - that will result from the merger, said Sierra spokesman Karl Walquist.

Proceeds will be used to finance continued construction at the Reno-based utility, including a natural gas pipeline and new electrical transmission links.

Common stock outstanding, including the new shares, would total 30,486,405 shares.

The agent is Lehman Brothers Inc.


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