Spark Energy, Inc. Announces Class A Common Stock Share Buyback Program
August 19, 2020 Email This Story Copyright 2010-20 EnergyChoiceMatters.com
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Spark Energy, Inc. ("Spark" or the "Company") announced that its Board of Directors has authorized a share buyback program of up to $20 million of Spark's Class A common stock, par value $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.
These shares may be repurchased from time to time in the open market at prevailing market prices or in privately negotiated transactions based on ongoing assessments of capital needs, the market price of the stock, and other factors, including general market conditions. The repurchase program does not obligate Spark to acquire any particular amount of common stock and it may be modified or suspended at any time, and could be terminated prior to completion, the Company said