UGI Corp Appoints Interim CEO, Reaffirms FY24 Guidance

TL;DR

UGI names interim CEO, Robert Beard, and sticks to 2024 guidance.

AI Summary

On June 25, 2024, UGI Corporation announced the appointment of Robert F. Beard as Interim Chief Executive Officer, effective immediately. Beard, who previously served as Executive Vice President and General Counsel, will lead the company while a search for a permanent CEO is conducted. The company also confirmed its previously issued guidance for fiscal year 2024.

Why It Matters

This leadership change could signal strategic shifts or a period of transition for UGI Corporation, impacting investor confidence and operational direction.

Risk Assessment

Risk Level: medium — Leadership changes, even interim ones, can introduce uncertainty regarding future strategy and execution.

Key Numbers

• 2024 — Fiscal Year Guidance (UGI Corporation reaffirmed its financial guidance for this fiscal year.)

Key Players & Entities

• UGI Corporation (company) — The reporting company
• Robert F. Beard (person) — Appointed Interim Chief Executive Officer
• Executive Vice President and General Counsel (context) — Robert F. Beard's previous role
• June 25, 2024 (date) — Effective date of the interim CEO appointment
• fiscal year 2024 (context) — The period for which guidance was reaffirmed

FAQ

Key Financial Figures

• $450,000,000 — from the previously announced amount of $450,000,000 to $475,000,000 (as amended herein, the
• $475,000,000 — sly announced amount of $450,000,000 to $475,000,000 (as amended herein, the "Tender Cap").

Filing Documents

• tm2418282d1_8k.htm (8-K) — 36KB
• tm2418282d1_ex99-1.htm (EX-99.1) — 13KB
• tm2418282d2_ex99-1img001.jpg (GRAPHIC) — 17KB
• 0001104659-24-075187.txt ( ) — 246KB
• ugi-20240625.xsd (EX-101.SCH) — 3KB
• ugi-20240625_lab.xml (EX-101.LAB) — 33KB
• ugi-20240625_pre.xml (EX-101.PRE) — 22KB
• tm2418282d1_8k_htm.xml (XML) — 3KB

01

Item 7.01 Regulation FD Disclosure. On June 26, 2024, AmeriGas Partners, L.P. ("AmeriGas Partners") and AmeriGas Finance Corp. ("Finance Corp." and, together with AmeriGas Partners, the "Issuers"), indirect, wholly-owned subsidiaries of UGI Corporation (the "Company"), announced the early tender results for the previously announced cash tender offer (the "Tender Offer") for the Issuers' 5.500% Senior Notes due 2025 (the "Notes"). In connection with the foregoing, the Issuers have also increased the maximum aggregate principal amount of the Notes that they will accept for purchase from the previously announced amount of $450,000,000 to $475,000,000 (as amended herein, the "Tender Cap"). The Tender Offer is being made upon the terms and subject to the conditions set forth in the offer to purchase, dated June 11, 2024 (as amended herein, the "Offer to Purchase"). The Company refers investors to the Offer to Purchase for the complete terms and conditions of the Tender Offer. Except as specifically amended in the press release announcing the early results of, and upsize in, the Tender Offer all other terms of the Tender Offer as previously announced in the Offer to Purchase remain unchanged. A copy of the press release announcing the early results of, and upsize in, the Tender Offer is furnished as Exhibit 99.1 to this Current Report on Form 8-K. As of the previously announced early tender date and time of 5:00 p.m., New York City time, on June 25, 2024 (the "Early Tender Deadline"), according to information provided by D.F. King & Co., Inc., the information and tender agent for the Tender Offer, the aggregate principal amount of the Notes as set forth in the table below under "Principal Amount Tendered at Early Tender Deadline" has been validly tendered and not validly withdrawn. Withdrawal rights expired at 5:00 p.m., New York City time, on the Early Tender Deadline. Title of Security CUSIP No. Principal Amount Outstanding Principal Amount Tendered at Ear

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Item 8.01. Other Events. On June 26, 2024, the Company issued a press release announcing the early results of, and upsize in, the Tender Offer. A copy of the press release announcing the early results of, and upsize in, the Tender Offer is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information included in this Current Report on Form 8-K under this Item 8.01 (including Exhibit 99.1) shall not be deemed "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section. It may be incorporated by reference in a registration statement or filing by the Company under the Exchange Act or the Securities Act only if and to the extent such subsequent filing specifically references the information herein as being incorporated by reference in such filing.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit Number: Description 99.1 Press Release of UGI Corporation dated June 26, 2024 announcing the early results and upsize of previously announced cash tender offer for AmeriGas Partners, L.P.'s and AmeriGas Finance Corp.'s 5.500% Senior Notes due 2025. 104 Cover Page Interactive Data File (formatted as inline XBRL).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. UGI Corporation June 26, 2024 By: /s/ Jessica A. Milner Name: Jessica A. Milner Title: Secretary

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View this 8-K filing on SEC EDGAR