ST. LOUIS, Feb. 8, 2021 /PRNewswire/ -- Spire Inc.
(NYSE: SR) (the "Company") announced today that it plans to issue
$150 million in equity units in a
registered underwritten public offering.
Each equity unit will be issued in a stated amount of
$50 and will consist of a contract to
purchase common stock of the Company in the future and a 1/20th, or
5%, undivided beneficial ownership interest in a remarketable
unsecured senior note due 2026 having a principal amount of
$1,000.
The Company expects to grant the underwriters the option to
purchase up to $15 million in
additional equity units for a period of 13 days solely for the
purpose of covering over-allotments.
The Company intends to use the net proceeds from this offering
for general corporate purposes and to repay short-term indebtedness
outstanding under its commercial paper program.
Credit Suisse, BofA Securities and Wells Fargo Securities will
be joint book-running managers for this offering. Copies of the
prospectus and prospectus supplement relating to this offering may
be obtained from the offices of 1) Credit Suisse at 6933 Louis
Stephens Drive , Raleigh, North
Carolina 27560 , Attn: Prospectus Department, by calling
toll free 1-800-221-1037, or by e-mail at
usa.prospectus@credit-suisse.com, 2) BofA Securities at
NC1-004-03-43 200 North College Street, 3rd floor, Charlotte, North Carolina 28255-0001, Attn:
Prospectus Department, by calling toll free 1-800-294-1322, or by
email at dg.prospectus_requests@bofa.com, or 3) Wells Fargo
Securities at 500 West 33rd Street, New
York, New York, 10001, Attn: Equity Syndicate Department, by
calling toll free 1-800-326-5897, or by e-mail at
cmclientsupport@wellsfargo.com.
This offering will be made under an effective shelf registration
statement filed with the Securities and Exchange
Commission.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy any securities in any jurisdiction
to any person to whom it is unlawful to make an offer, solicitation
or sale in such jurisdiction. The offering of these
securities will be made only by means of the prospectus supplement
and accompanying prospectus.
About Spire
Spire Inc. (NYSE: SR) serves 1.7 million
homes and businesses in Alabama,
Mississippi and Missouri. Our natural gas-related businesses
include Spire Marketing, Spire STL Pipeline and Spire Storage.
Cautionary Statements on Forward-Looking
Information
This news release contains forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended. The Company's future operating
results may be affected by various uncertainties and risk factors,
many of which are beyond the Company's control, including weather
conditions, economic factors, the competitive environment,
governmental and regulatory policy and action, and risks associated
with acquisitions. More complete descriptions and listings of these
uncertainties and risk factors can be found in the Company's Annual
Report on Form 10-K for the fiscal year ended September 30, 2020 and the Company's Quarterly
Report on Form 10-Q for the quarter ended December 31, 2020, each as filed with the
Securities and Exchange Commission.
Investor Contact:
Scott W. Dudley Jr.
314-342-0878
Scott.Dudley@SpireEnergy.com
Media Contact:
Jessica B. Willingham
314-342-3300
Jessica.Willingham@SpireEnergy.com
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SOURCE Spire Inc.