Spark Energy, Inc. Announces Class A Common Share Repurchase Program

0

HOUSTON, TX/ACCESSWIRE/August 18, 2020/ Spark Energy, Inc. (“Spark” or the “Company”) (NASDAQ: SPKE), an independent retail energy services company, today announced that its Board of Directors has authorized a stock repurchase program up to $20 million of Spark’s Class A common stock, par value of $0.01 per share (the “Class A Common Stock”) through August 18, 2021. The Company intends to fund the program through available cash balances and borrowings under its senior credit facility, as well as future operating cash flows.

Such shares may be redeemed from time to time in the open market at prevailing market prices or in privately negotiated transactions based on ongoing assessments of capital needs, market price of the stock and performance. other factors, including general market conditions. The buyback program does not obligate Spark to acquire any particular amount of common stock and may be modified or suspended at any time, and may be terminated prior to its completion.

About Spark Energy, Inc.

Spark Energy, Inc. is an 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. Based in Houston, Texas, Spark currently operates in 19 states and serves 94 utility territories. Spark offers customers a variety of product and service choices, including stable and predictable energy costs and green product alternatives.

We use our website as a means to disclose material, nonpublic information and to comply with our disclosure obligations under the FD Regulations. Investors should note that new materials, including press releases, updated investor presentations, and financial and other filings with the Securities and Exchange Commission are posted on the Spark Energy Investor Relations website at ir. sparkenergy.com. Investors are urged to check our website regularly for information and updates on the Company.

Caution Regarding Forward-Looking Statements

This release contains forward-looking statements that are subject to a number of risks and uncertainties, many of which are beyond our control. These forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) may be identified by the use of forward-looking terminology including “may”, “should”, “probable”, “will”, “believe”, “expect”, “anticipate”, “estimate”, “continue”, ” plan”, “intention”, “project” or other similar words. All statements, other than statements of historical facts included in this press release, regarding strategy, future operations, financial condition, estimated revenues and losses, projected costs, prospects, plans, objectives and management’s beliefs are forward-looking statements. Forward-looking statements appear at several places in this press release and include statements about the timing and amount of future purchases under the buyback program, sources of funds under the buyback program and the impacts of the buyback program. redemption. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot guarantee that these expectations will prove to be correct.

The forward-looking statements contained in this press release are subject to risks and uncertainties. Important factors that could cause actual results to differ materially from those projected in the forward-looking statements include, but are not limited to:

  • potential risks and uncertainties related to COVID-19, including geographic spread, severity of illness, extent and duration of the COVID-19 outbreak, measures that may be taken by government authorities to contain the COVID-19 outbreak or to address its impact and potential adverse impacts of COVID-19 on economies and financial markets;

  • changes in commodity prices;

  • the adequacy of risk management and hedging policies and practices;

  • the impact of extreme and unpredictable weather conditions, including hurricanes and other natural disasters;

  • federal, state and local regulations, including the industry’s ability to process or adapt to potentially restrictive new regulations that may be enacted by public utility commissions;

  • our ability to borrow funds and access credit markets;

  • restrictions in our debt agreements and collateral requirements;

  • credit risk vis-à-vis suppliers and customers;

  • changes in customer acquisition costs and actual churn rates;

  • the accuracy of billing systems;

  • our ability to effectively identify, complete and integrate acquisitions into our operations;

  • significant changes or new loadings by ISOs in the regions where we operate;

  • competetion; and

  • “Risk Factors” in our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2019, in our Quarterly Reports on Form 10-Q, and in other public documents and press releases.

You should review the risk and other factors noted throughout this press release that could cause our actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements speak only as of the date of this press release. Except as required by law, we disclaim any obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise. It is not possible for us to predict all risks, nor to assess the impact of all factors on the business or the extent to which any one factor, or combination of factors, could cause actual results to differ. significantly from those contained in the forecasts. research statements.

Contact:

Spark Energy, Inc.

Investors:
Mike Barajas, 832-200-3727
Media:
Kira Jordan, 832-255-7302

THE SOURCE: Spark Energy, Inc. via EQS Newswire

See the source version on accesswire.com:
https://www.accesswire.com/602279/Spark-Energy-Inc-Announces-Class-A-Common-Stock-Share-Buyback-Program

Share.

Comments are closed.