HOUSTON, March 30, 2016 (GLOBE NEWSWIRE) — Spark Energy, Inc. (NASDAQ:SPKE), a Delaware corporation (“Spark”), announced today the pricing of an underwritten secondary public offering of 1.5 million shares of its Class A common stock held by Retailco, LLC (the “Selling Stockholder”), at a price to the public of $18.00 per share. The offering is expected to close on April 4, 2016, subject to customary closing conditions.
Spark will not receive any proceeds from the proposed secondary offering. In connection with the offering, the underwriters have a 30-day option to purchase up to an additional 225,000 shares, or 15%, in the offering from the Selling Stockholder.
FBR Capital Markets & Co. is serving as sole book-running manager, Janney Montgomery Scott LLC, Wunderlich Securities, Inc. and Ladenburg Thalmann & Co. Inc. are serving as lead managers and USCA Securities LLC and Drexel Hamilton, LLC are serving as co-managers of the offering.
The Class A common stock will be issued and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. When available, copies of the prospectus supplement for the offering may be obtained on the website of the Securities and Exchange at www.sec.gov, or by contacting:
FBR Capital Markets & Co.
Attention: Syndicate Prospectus Department
1300 North 17th Street, Suite 1400, Arlington, Virginia 22209
Telephone: 703-312-9726, Email: prospectuses@fbr.com
This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy the securities, 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. The offering of these securities 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 (the “Securities Act”).
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 16 states and serves 66 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 Regarding Forward-Looking Statements
This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that Spark expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations.
Spark Energy, Inc. Investors: Andy Davis, 832-200-3727 Media: Jenn Korell, 281-833-4151
Source: Spark Energy, Inc.