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Retail Supplier Announces Final Results Of Tender Offer
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Via Renewables, Inc. (Via Renewables or the Company) announced on Dec. 18 the final results of its tender offer to purchase up to 800,000 shares of its 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share (the "Series A Preferred Stock" or the "shares"), at a purchase price of $22.50 per share, in cash, less applicable withholding taxes and without interest.
Based on the final count by the depositary for the tender offer, approximately 187,103 shares of the Series A Preferred Stock were properly tendered and not properly withdrawn.
The Company expects to accept for purchase all properly tendered shares of the Series A Preferred Stock at a purchase price of $22.50 per share, for an aggregate purchase price of approximately $4,209,817.50.
The shares that are expected to be acquired represent approximately 5.2% of the Company’s currently outstanding Series A Preferred Stock.
"Via Renewables may, in the future, decide to purchase additional shares in the open market subject to market conditions and private transactions, tender offers or otherwise subject to applicable law," Via said
"Whether Via Renewables makes additional repurchases in the future will depend on many factors, including but not limited to its business and financial performance, the business and market conditions at the time, including the price of the shares, and other factors Via Renewables considers relevant," Via said
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December 18, 2024
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Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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