Spark Energy, Inc. Announces Public Offering Of Series A Preferred Stock

HOUSTON, March 08, 2017 (GLOBE NEWSWIRE) -- Spark Energy, Inc. (Nasdaq:SPKE) (“Spark”) today announced that it has commenced a public offering of Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock (“Series A Preferred Stock”) pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission (the “SEC”).

Spark will grant the underwriters a 30-day option to purchase additional Series A Preferred Stock. It is anticipated that the preferred rate will be fixed for 5 years from the date of original issuance of the Series A Preferred Stock and thereafter will be adjusted on a quarterly basis based on a spread to three-month LIBOR.

Spark intends to use the net proceeds of this offering for general corporate purposes, which may include, among other things, funding working capital, capital expenditures, liquidity for operational contingencies, debt repayments and acquisitions. Pending these uses, the net proceeds may be temporarily invested in short- and medium-term securities. RBC Capital Markets, LLC and FBR Capital Markets & Co. will act as joint book-running managers of the offering. Janney Montgomery Scott LLC and Wunderlich Securities, Inc. will act as senior co-managers. BB&T Capital Markets, a division of BB&T Securities, LLC, Ladenburg Thalmann & Co. Inc., National Securities Corporation and USCA Securities LLC will act as co-managers.

The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended. A copy of the preliminary prospectus supplement and accompanying base prospectus meeting such requirements relating to this offering may be obtained from any of the underwriters, including the offices of:

RBC Capital Markets, LLC FBR Capital Markets & Co.
Attn: Syndicate Operations Attn: Syndicate Prospectus Department
200 Vesey Street, 8th Floor 1300 North 17th Street, Suite 1400
New York, NY 10281-8098 Arlington, VA 22209
Phone: (866) 375-6829 Phone: (703) 312-9726
Email: rbcnyfixedincomeprospectus@rbccm.com  Email: prospectuses@fbr.com 
   
1 2 3 4
View single page >> |

Disclosure: None.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.