Via Renewables, Inc. announced today the commencement of a new 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 $22.50 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. This action follows previous efforts to manage the preferred equity component of its capital structure.
The repurchase of these shares, if successful, would further reduce the company's ongoing dividend obligations. This move demonstrates Via Renewables' continued focus on optimizing its financial structure and enhancing flexibility.
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