Via Renewables Earlier Announced 1 for 5 Reverse Stock Split

Author: Charles Gross | March 20, 2023 03:53pm
Via Renewables, Inc. ("Via Renewables" or the "Company") (NASDAQ:VIA)(NASDAQ:VIASP) , announced that its shareholders overwhelmingly approved a proposal by the Company's Board of Directors to consummate a reverse stock split of the Company'sClass A common stock, par value $0.01 per share (the "Class A common stock"), at a ratio between 1 for 2 to 1 for 5 and (ii) Class B common stock, par value $0.01 per share (the "Class B common stock" and, together with the Class A common stock, the "Common Stock"), at a ratio between 1 for 2 to 1 for 5, with such ratios to be determined by the Chief Executive Officer or the Chief Financial Officer of the Company, or to determine not to proceed with the reverse stock split, without further approval or authorization of the Company's shareholders, during a period of time not to exceed the one-year anniversary of the date on which the reverse stock split is approved by the Company's shareholders (the "Reverse Stock Split").

Posted In: VIA VIASP