Vistra Corp. Completes $2.1B Nuclear Asset Acquisition
Ticker: VST · Form: 8-K · Filed: Mar 7, 2024 · CIK: 1692819
| Field | Detail |
|---|---|
| Company | Vistra CORP. (VST) |
| Form Type | 8-K |
| Filed Date | Mar 7, 2024 |
| Risk Level | medium |
| Pages | 8 |
| Reading Time | 9 min |
| Key Dollar Amounts | $0.01, $0.001, $100,000, $10,000, $25,000 |
| Sentiment | mixed |
Sentiment: mixed
Topics: acquisition, nuclear-power, officer-changes
TL;DR
Vistra just bought Energy Harbor's nuclear plants for $2.1B, boosting their clean energy game.
AI Summary
On March 1, 2024, Vistra Corp. announced the completion of its acquisition of Energy Harbor's nuclear generation assets for $2.1 billion. This strategic move significantly expands Vistra's nuclear power generation capacity. The company also reported on the departure of a director and the appointment of new officers, along with details on compensatory arrangements.
Why It Matters
This acquisition marks a significant expansion of Vistra's clean energy portfolio, potentially impacting electricity prices and the company's long-term strategy in the power generation market.
Risk Assessment
Risk Level: medium — The acquisition of significant nuclear assets introduces complexities related to regulatory compliance, operational risks, and integration challenges.
Key Numbers
- $2.1B — Acquisition Price (Vistra Corp. acquired Energy Harbor's nuclear generation assets for this amount.)
Key Players & Entities
- Vistra Corp. (company) — Registrant
- Energy Harbor (company) — Acquired company
- $2.1 billion (dollar_amount) — Acquisition price
- March 1, 2024 (date) — Effective date of acquisition completion
FAQ
What specific nuclear generation assets did Vistra Corp. acquire from Energy Harbor?
The filing states Vistra Corp. acquired Energy Harbor's nuclear generation assets, but does not specify the exact plants in this summary.
What is the total capacity of the acquired nuclear assets?
The filing does not specify the total capacity of the acquired nuclear assets.
When was the acquisition of Energy Harbor's nuclear assets officially completed?
The acquisition was completed on March 1, 2024.
Are there any new officers appointed or directors departing mentioned in this filing?
Yes, the filing indicates the departure of a director and the appointment of certain officers, along with details on compensatory arrangements.
What is Vistra Corp.'s primary business sector?
Vistra Corp.'s primary business sector is Electric Services, as indicated by its SIC code 4911.
Filing Stats: 2,321 words · 9 min read · ~8 pages · Grade level 13.8 · Accepted 2024-03-07 16:34:01
Key Financial Figures
- $0.01 — ich Registered Common stock, par value $0.01 per share VST New York Stock Exchan
- $0.001 — their shares of common stock, par value $0.001 per share, of Energy Harbor (the "Rollo
- $100,000 — consists of an annual cash retainer of $100,000, plus an additional $10,000 for each of
- $10,000 — etainer of $100,000, plus an additional $10,000 for each of the committees of the Board
- $25,000 — rd on which he serves and an additional $25,000 for serving as chair of the Nuclear Ove
- $160,000 b — k units with a grant date fair value of $160,000 based on the public trading price of Vist
Filing Documents
- d763091d8k.htm (8-K) — 44KB
- d763091dex101.htm (EX-10.1) — 348KB
- d763091dex991.htm (EX-99.1) — 12KB
- d763091dex992.htm (EX-99.2) — 6KB
- g763091g0307121224137.jpg (GRAPHIC) — 5KB
- g763091g0307121224433.jpg (GRAPHIC) — 3KB
- g763091g0307122227570.jpg (GRAPHIC) — 3KB
- 0001193125-24-062246.txt ( ) — 636KB
- vst-20240301.xsd (EX-101.SCH) — 3KB
- vst-20240301_lab.xml (EX-101.LAB) — 17KB
- vst-20240301_pre.xml (EX-101.PRE) — 11KB
- d763091d8k_htm.xml (XML) — 3KB
Financial Statements of Businesses or Funds Acquired
Financial Statements of Businesses or Funds Acquired Vistra will file the financial statements of Energy Harbor required by Item 9.01(a) as an amendment to this Current Report on Form 8-K no later than 71 calendar days after the required filing for this Current Report on Form 8-K. (b) Pro Forma Financial Information Vistra will file the pro forma financial information required by Item 9.01(b) as an amendment to this Current Report on Form 8-K no later than 71 calendar days after the required filing for this Current Report on Form 8-K. d) Exhibits. Exhibit No. Description 2.1* Transaction Agreement, dated March 6, 2023, by and among Vistra Operations Company LLC, Black Pen, Inc. and Energy Harbor Corp. (incorporated by reference to Exhibit 2.1 to Vistra's Current Report on Form 8-K filed on March 7, 2023) 10.1* Amended and Restated Limited Liability Company Agreement of Vistra Vision LLC, dated March 1, 2024 10.2 Form of Contribution and Exchange Agreement, dated March 6, 2023 (incorporated by reference to Exhibit 10.2 to Vistra's Current Report on Form 8-K filed on March 7, 2023) 99.1 Press Release dated March 1, 2024 99.2 Press Release dated March 7, 2024 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. * Certain exhibits, schedules and annexes to this exhibit have been omitted pursuant to Item 601(a)(5) of Regulation S-K. Vistra agrees to furnish supplementally a copy of any omitted exhibits, schedules or annexes to the SEC upon its request.
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 thereunto duly authorized. Dated: March 7, 2024 VISTRA CORP. By: /s/ Yuki Whitmire Name: Yuki Whitmire Title: Vice President, Associate General Counsel and Corporate Secretary