Via Renewables, Inc. announced today its plan to redeem 168,008 shares of its 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock. The redemption price is set at $25.00 per share in cash, which is the liquidation preference.
In addition to the liquidation preference, the company will pay $0.41914 per share of accumulated and unpaid dividends up to the redemption date of June 9, 2025. This redemption provides liquidity to preferred shareholders at the full liquidation value.
This action significantly reduces the outstanding preferred share count and the associated dividend obligation for Via Renewables. The redemption demonstrates the company's commitment to managing its capital structure and enhancing financial flexibility.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.