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Spark Energy Announces Final Results Of Tender Offer

June 22,2020



Spark Energy, Inc. (including its subsidiaries, "we," "our," "us," "Spark" or the "Company") announced on June 19 the final results of its tender offer to purchase up to 1,000,000 shares of its 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share (the "Series A Preferred Stock" or the "shares"), at a purchase price of $22.00, in cash, less applicable withholding taxes and without interest. The offer expired at 11:59 p.m., New York City time, on Tuesday, June 16, 2020.

Spark has accepted for purchase 36,827 shares of the Series A Preferred Stock at a purchase price of $22.00 per share, for an aggregate purchase price of approximately $810,194. These shares represented approximately 1% of the Company's outstanding Series A Preferred Stock as of June 18, 2020.

Based on the final tabulation by American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, approximately 36,827 shares of the Series A Preferred Stock were properly tendered and not properly withdrawn.

The depositary will promptly issue payment for the shares properly tendered and accepted for purchase and will return all other shares tendered.

Spark said that it may, in the future, decide to purchase additional shares in the open market subject to market conditions and private transactions, tender offers or otherwise subject to applicable law. Any such purchases may be on the same terms as, or on terms that are more or less favorable to holders of Series A Preferred Stock than, the terms of the offer. Whether Spark makes additional repurchases in the future will depend on many factors, including but not limited to its business and financial performance, the business and market conditions at the time, including the price of the shares, and other factors Spark considers relevant.

MacKenzie Partners, Inc. acted as the information agent for the tender offer. American Stock Transfer & Trust Company, LLC is the depositary for the tender offer.

Spark's announcement was made for informational purposes only, and is not an offer to buy or the solicitation of an offer to sell any shares of the Company's Series A Preferred Stock. The offer was made solely by the Offer to Purchase and the related Letter of Transmittal, as amended or supplemented.

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Spark Energy Announces Final Results Of Tender Offer


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