Via Renewables to be taken private at $11.00/shr by CEO Maxwell's entity Retailco

Via Renewables, Inc.

Retailco, owned by CEO/Chairman Maxwell, will acquire all VIA Class A common not held by Maxwell for $11.00 cash per share.
Consideration represents a 17.0% premium to Dec 29, 2023 close, 19.7% premium to 30-day VWAP, 36.5% to 60-day VWAP.
Maxwell currently owns ~65.7% of Via Renewables common stock; his shares will remain outstanding.
Class B common and Series A preferred stock (VIASP) will remain outstanding and continue trading on Nasdaq.
Special Committee of independent directors approved deal; stockholder vote required (majority of minority non-insider shares).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Via Renewables, Inc. entered into Agreement and Plan of Merger with Retailco, LLC; NuRetailco LLC valued at $11.00 per share in cash (effective 2023-12-29).

Action: entry
Agreement: merger
Counterparty: Retailco, LLC; NuRetailco LLC
Value: $11.00 per share in cash
Effective: 2023-12-29

Exact text from the filing

On December 29, 2023, Via Renewables, Inc., a Delaware corporation (the “ Company ”), Retailco, LLC, a Texas limited liability company (“ Parent ”), and NuRetailco LLC, a Delaware limited liability company and wholly-owned subsidiary of Parent (“ Merger Sub ”), entered into an Agreement and Plan of Merger (the “ Agreement ”).

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Via Renewables, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-24-000016

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