Via Renewables, Inc. announced today the commencement of a tender offer to purchase up to 200,000 shares of its 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock. The company is offering a purchase price of $24.00 per share in cash, less applicable withholding taxes and without interest.
This tender offer represents approximately 5.9% of the company's currently outstanding Series A Preferred Stock. The offer price of $24.00 per share is higher than previous tender offers, reflecting a different valuation approach.
The successful completion of this tender offer would contribute to a further reduction in the company's preferred share count and its associated dividend obligations. This action aligns with Via Renewables' strategy to strengthen its balance sheet and manage its capital structure.
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