ST. LOUIS, May 7, 2018 /PRNewswire/ -- Spire Inc.
(NYSE: SR) announced today that it has priced a public offering of
2,000,000 shares of its common stock at $68.75 per share. Spire has also granted the
underwriters a 30-day option to purchase up to 300,000 additional
shares of common stock. Gross proceeds from the offering are
expected to be $137.5 million or
$158.1 million if the option to
purchase additional shares is exercised in full. The offering is
expected to close on May 10, 2018,
subject to customary closing conditions.
The offering is intended to support investments in ongoing
infrastructure upgrades, as well as the Spire STL Pipeline and
recently acquired storage assets. To that end, we intend to use the
net proceeds from the offering to repay short-term borrowings used
to fund such investments as well as for general corporate
purposes.
Wells Fargo Securities, Credit Suisse and RBC Capital Markets
are acting as joint bookrunners for the offering, and Stifel and
Ramirez & Co., Inc. are co-managers. Copies of the preliminary
prospectus supplement and accompanying prospectus for the offering
may be obtained from:
- Wells Fargo Securities, LLC, 375 Park Avenue, New York, NY 10152
Attention: Equity Syndicate Department
800-326-5897 cmclientsupport@wellsfargo.com
- Credit Suisse Securities (USA)
LLC, One Madison Avenue, New York,
NY 10010
Attention: Credit Suisse Prospectus Department
800-221-1037 newyork.prospectus@credit-suisse.com
- RBC Capital Markets, LLC, 200 Vesey Street, 8th
Floor, New York, NY 10281-8098
Attention: Equity Syndicate
877-822-4089 equityprospectus@rbccm.com
This news release shall not constitute an offer to sell or the
solicitation of any offer to buy any securities, nor shall there be
any sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
state or other jurisdiction.
About Spire
At Spire Inc. (NYSE: SR) we believe energy exists to help make
people's lives better. It's a simple idea, but one that's at the
heart of our company. Every day we serve 1.7 million homes and
businesses, making us the fifth-largest publicly traded natural gas
company in the country. We help families and business owners fuel
their daily lives through our gas utilities serving Alabama, Mississippi and Missouri. Our non-utility operations include
Spire Marketing, which provides natural gas marketing and related
services. We are committed to transforming our business and
pursuing growth through 1) growing organically, 2) investing
in infrastructure, 3) acquiring and integrating, and 4)
innovation and technology.
Forward-Looking and Cautionary Statements
This news release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934. Our
future operating results may be affected by various uncertainties
and risk factors, many of which are beyond our control, including
weather conditions, economic factors, the competitive environment,
governmental and regulatory policy and action, and risks associated
with acquisitions. For a more complete description of these
uncertainties and risk factors, see the preliminary prospectus
supplement and accompanying prospectus for the offering, including
our Annual Report on Form 10-K for the fiscal year ended
September 30, 2017 and our Quarterly
Reports on Form 10-Q for the quarters ended December 31, 2017 and March 31, 2018 incorporated by reference therein,
each as filed with the Securities and Exchange Commission.
Investor Contact:
Scott W. Dudley Jr.
Scott.Dudley@SpireEnergy.com
314-342-0878
Media Contact:
Jessica B. Willingham
Jessica.Willingham@SpireEnergy.com
314-342-3300
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SOURCE Spire Inc.