Via Renewables Acquires Another Broker Book

In a 10-Q, Via Renewables, Inc. reported the acquisition of another broker book.

Specifically, Via reported that, "In January 2022, we entered into an asset purchase agreement to acquire the rights to broker contracts for approximately 900 customer meters for a cash price of $0.6 million, pending certain conditions to close. We paid approximately $0.3 million as a deposit at the time the asset purchase agreement was executed. The conditions to close were met in June 2022, at which time approximately $0.3 million was paid to the seller."

This broker book acquisition is separate from a previously reported acquisition entered into in January 2022, which had been reported in a 10-Q for the first quarter of 2022. As previously reported, in this separate transaction, Via had entered into an asset purchase agreement and agreed to acquire the rights to broker contracts for approximately 1,000 customer meters for a cash price of $0.4 million, which was paid upon execution of the contract.

Additional details from Via Renewables' 10-Q will follow in a subsequent story