other material
confidence high
sentiment neutral
materiality 0.50
NiSource to remarket up to 862,500 shares of Series C Mandatory Convertible Preferred Stock
NISOURCE INC.
- Remarketing period scheduled Oct 2-23, 2023; Goldman Sachs is sole remarketing agent.
- Each share of Mandatory Convertible Preferred Stock will auto-convert into 34.9107-41.0201 shares of common on March 1, 2024.
- If closing price is ≤$24.3783 on pricing date, minimum conversion rate increases to $1,000 / 117.5% of that price.
- Dividends may become payable after remarketing; NiSource intends to pay in cash.
- NiSource will not receive any proceeds; proceeds will be used to satisfy equity unit purchase contracts or remitted to holders.