Spire Inc. Conducts $350M Notes Exchange and Sale

Spire Inc (SR) has released an update.

Spire Inc. has agreed to a complex financial transaction with selling securityholders involving the exchange and sale of different series of notes totaling $350 million in aggregate principal amount. The transaction includes a remarketing of senior notes, a direct sale to Spire, and the right for securityholders to publicly offer Senior Notes, culminating in a public offering. Spire aims to use the proceeds to repay debt and for general purposes, while securityholders will receive a combination of Senior Notes and cash. The agreements were incorporated by reference into Spire’s Registration Statement with the SEC.

For further insights into SR stock, check out TipRanks’ Stock Analysis page.

For a comprehensive understanding of the announcement, you can read the full document here.