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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 6:49 AM

Slide #67. Spark Energy, Inc. Preferred Stock Offering

Company: Spark Energy, Inc. (NASDAQ:SPKE)
Date announced: 3/8/2017
Shares Offered: 1,400,000
Date of Pricing: 3/8/2017
Price Per Share: $25.00
Preferred Stock Offering Details: 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. -updated 3/8- Spark Energy, Inc. (NASDAQ:SPKE) ("Spark") today announced the pricing of its public offering of 1,400,000 shares of 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock ("Series A Preferred Stock") at a price of $25.00 per share. The underwriters have been granted a 30-day option to purchase up to 210,000 additional shares of Series A Preferred Stock from Spark, exercisable in whole or in part, at the public offering price less the underwriting discount. Dividends on the Series A Preferred Stock will be payable at a rate of 8.75% per annum of the stated liquidation preference of $25.00 from the date of issuance up to (but excluding) April 15, 2022, and from (and including) that date at a floating rate equal to three-month LIBOR plus a spread of 6.578% per annum. The offering is scheduled to close on March 15, 2017.

Spark Energy is a holding company. Through its subsidiaries, Co. is an independent retail energy services company that provides residential and commercial customers with an alternative choice for their natural gas and electricity. Co. has two segments: Retail Natural Gas, which purchases natural gas supply with market counterparts and supplies natural gas to residential and commercial consumers; and Retail Electricity, which purchases electricity supply with market counterparts and independent system operators and supply electricity to residential and commercial consumers. As of Dec 31 2016, Co. operated in 90 utility service territories across 18 states and the District of Columbia.

Preferred: SPKEP

Open the SPKE Page at Ru Back Packer »

Name: Spark Energy Inc
Sector: Electric Utilities
Number of ETFs Holding SPKE: 15 (see which ones)
Total Market Value Held by ETFs: $5,596,823
Total Market Capitalization: $130,000,000
% of Market Cap. Held by ETFs: 4.31%

Open the SPKE Page at Ru Back Packer (in a new window) »

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