Via Renewables Files 8-K with Material Agreement

Ticker: VIASP · Form: 8-K · Filed: Oct 25, 2024 · CIK: 1606268

Via Renewables, Inc. 8-K Filing Summary
FieldDetail
CompanyVia Renewables, Inc. (VIASP)
Form Type8-K
Filed DateOct 25, 2024
Risk Levelmedium
Pages2
Reading Time3 min
Sentimentneutral

Sentiment: neutral

Topics: material-agreement, corporate-filing

TL;DR

Via Renewables just signed a big deal, filing an 8-K on 10/23/24.

AI Summary

Via Renewables, Inc. entered into a material definitive agreement on October 23, 2024. The filing also includes financial statements and exhibits. The company, formerly known as Spark Energy, Inc., is incorporated in Delaware and headquartered in Houston, Texas.

Why It Matters

This 8-K filing indicates a significant new agreement for Via Renewables, which could impact its business operations and financial standing.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that are not yet fully understood.

Key Players & Entities

  • Via Renewables, Inc. (company) — Registrant
  • October 23, 2024 (date) — Date of earliest event reported
  • Spark Energy, Inc. (company) — Former company name
  • Delaware (jurisdiction) — State of incorporation
  • Houston, Texas (location) — Principal Executive Offices

FAQ

What is the nature of the material definitive agreement entered into by Via Renewables, Inc. on October 23, 2024?

The filing indicates the entry into a material definitive agreement on October 23, 2024, but the specific details of the agreement are not provided in the provided text.

What was Via Renewables, Inc. formerly known as?

Via Renewables, Inc. was formerly known as Spark Energy, Inc.

In which state is Via Renewables, Inc. incorporated?

Via Renewables, Inc. is incorporated in Delaware.

Where are Via Renewables, Inc.'s principal executive offices located?

Via Renewables, Inc.'s principal executive offices are located at 12140 Wickchester Ln, Ste 100, Houston, Texas 77079.

What is the SEC file number for Via Renewables, Inc.'s 8-K filing?

The SEC file number for Via Renewables, Inc.'s 8-K filing is 001-36559.

Filing Stats: 702 words · 3 min read · ~2 pages · Grade level 13.2 · Accepted 2024-10-25 17:03:27

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On October 23, 2024, Via Renewables, Inc. ("Via Renewables") entered into an asset purchase agreement (the "Purchase Agreement") with Tomorrow Energy Corp ("Seller") to purchase a portfolio of residential RCEs. We expect customers to begin transferring to Via Renewables brands as early as December 2024. Simultaneously upon execution of the Purchase Agreement, Via Renewables, Seller, and the escrow agent entered into an Escrow Agreement, whereby Via Renewables deposited the total amount of the purchase price into escrow for the benefit of Seller. The release of the purchase price from escrow on a per-RCE basis to Seller will be in accordance with the terms and conditions in the Purchase Agreement, and any unallocated balance will be returned to Via Renewables once the acquisitions are complete. In addition to the Purchase Agreement, a Non-Solicitation Agreement was also entered into between Via Renewables and Seller, effective October 23, 2024, providing that, for a period of five (5) years following the last purchase price payment released to Seller, Seller agreed that they will not solicit or attempt to cancel, renew or terminate any customer or customer contract purchased by Via Renewables under the Purchase Agreement. Further, the Non-Solicitation Agreement provides for a reimbursement obligation in the event Seller solicits any such customers or customer contracts. The Purchase Agreement includes standard representations and warranties from all parties and indemnifications for breaches of such representations by Via Renewables on the one hand and by Seller on the other hand. The Purchase Agreement also provided for 7.5% of the aggregate purchase price paid by Via Renewables to continue to be held in escrow for one (1) year following the last purchase price payment released from escrow to Seller, as security for any breach of the Non-Solicitation Agreement by Seller and to cover Seller's indemnity obligation

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 2.1 Asset Purchase Agreement by and between Tomorrow Energy Corp, as Seller, and Spark HoldCo, LLC, as Buyer, dated as of October 22, 2024. # The Registrant agrees to furnish supplementary a copy of any schedules and exhibits to the Commission upon request. 3

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. Dated: October 25, 2024 Via Renewables, Inc. By: /s/ Mike Barajas Name: Mike Barajas Title: Chief Financial Officer 4

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