Via Renewables, Inc. announced today the commencement of a tender offer to purchase up to 800,000 shares of its 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock. The company is offering a purchase price of $22.50 per share in cash, less applicable withholding taxes and without interest.
This tender offer represents a potential repurchase of approximately 22.4% of the company's currently outstanding Series A Preferred Stock. This initiative aims to manage the company's capital structure by reducing the number of preferred shares.
Such a repurchase, if completed, would decrease the total dividend obligation for the Series A Preferred Stock, potentially enhancing financial flexibility for Via Renewables. This move reflects the company's active management of its preferred equity.
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