Spark Energy, Inc. Announces Public Offering of Series A Preferred Stock
January 23 2018 - 9:00AM
Spark Energy, Inc. (“Spark” or the “Company”) (NASDAQ:SPKE), an
independent retail energy services company, announced today that it
has commenced a public offering of its 8.75% 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 shares of
Series A Preferred Stock.
Spark intends to use the net proceeds of this
offering for merger and acquisition opportunities, international
expansion and general corporate purposes, including to repay a
portion of borrowings outstanding under Spark’s senior secured
borrowing base credit facility. B. Riley FBR, Inc., Janney
Montgomery Scott LLC, BB&T Capital Markets, a division of
BB&T Securities, LLC, and Ladenburg Thalmann & Co. Inc.
will act as joint book-running managers of the offering. Boenning
& Scattergood, Inc., Incapital LLC, National Securities
Corporation, a wholly owned subsidiary of National Holdings, Inc.
(NASDAQ:NHLD), 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:
B. Riley FBR, Inc.Attn:
Syndicate Prospectus Department1300 17th Street N., Suite
1400Arlington, VA 22209Phone: (800) 846-5050Email:
prospectuses@brileyfbr.com |
Janney Montgomery Scott
LLCAttn: Taxable Fixed Income Department1717 Arch Street, 19th
FloorPhiladelphia, Pennsylvania 19103Phone: 215-665-6130Email:
TFI@janney.com |
BB&T Capital MarketsAttn: Prospectus Department901 East
Byrd Street, Suite 300Richmond, VA 23219Email:
prospectusrequests@bbandtcm.com |
Ladenburg
Thalmann & Co.Syndicate Department277 Park Avenue, 26th
FloorNew York, NY 10172prospectus@ladenburg.com |
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You may also obtain these documents for free
when they are available by visiting the Securities and Exchange
Commission's Web site at www.sec.gov.
The shelf registration statement relating to
these securities has previously been filed with the SEC and
declared effective. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
About Spark Energy, Inc.
Spark Energy, Inc. is an established and growing
independent retail energy services company founded in 1999 that
provides residential and commercial customers in competitive
markets across the United States with an alternative choice for
their natural gas and electricity. Headquartered in Houston, Texas,
Spark currently operates in 19 states and serves 94 utility
territories. Spark offers its customers a variety of product and
service choices, including stable and predictable energy costs and
green product alternatives.
Cautionary Note Concerning Forward
Looking Statements
This press release includes forward-looking
statements regarding future events. These forward-looking
statements rely on a number of assumptions concerning future events
and are subject to a number of uncertainties and factors, many of
which are outside the control of Spark, and a variety of risks that
could cause results to differ materially from those expected by the
management of Spark. Spark undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions,
the occurrence of unanticipated events or changes to future
operating results over time.
Contact: Spark Energy, Inc.
Investors:
Christian Hettick, 832-200-3727
Media:
Eric Melchor, 281-833-4151
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