Spark Energy (NASDAQ:SPKE) has announced pricing for a reopened preferred stock issue.
This is a reopening of the earlier issue from March and thus is trading at $24.75 on the reopening. The official offering price is $25.25.
The reopened Series A issue will be 2,000,000 share of a 8.75% fixed-to-floating issue with 250,000 shares available for overallotment. When originally offered in March 1,400,000 shares were sold.
Shares are cumulative and are redeemable as early as 4/2022.
Spark Energy is an independent energy retailer (natural gas and electricity) operating in 18 states headquartered in Houston.