Spire Inc. Announces Redemption of $253.6M Series A Preferred Stock

summarizeSummary

Spire Inc. formally announced the redemption of all its outstanding 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock, totaling approximately $253.6 million, completing a previously disclosed capital optimization strategy.

check_boxKey Events

• Formal Redemption Notice

  Spire Inc. will redeem all 10,000 outstanding shares of its 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock and corresponding depositary shares.

• Redemption Value and Date

  The redemption is anticipated on February 13, 2026, at a price of $25.00 per depositary share plus $0.36056 in accumulated dividends, totaling approximately $253.6 million.

• Delisting of Preferred Stock

  Upon redemption, the Series A Preferred Stock will no longer be outstanding and will be delisted from the New York Stock Exchange.

• Follows Recent Financing

  This redemption completes the capital optimization strategy previously announced, which included the issuance of $200 million in 6.375% Junior Subordinated Notes due 2086 to fund this action.

auto_awesomeAnalysis

This 8-K filing confirms the redemption of Spire Inc.'s Series A Preferred Stock, a significant capital structure event that follows the company's recent issuance of $200 million in junior subordinated notes. The redemption, valued at approximately $253.6 million, will eliminate the 5.90% dividend obligation and lead to the delisting of the preferred shares. While the intent to redeem was previously disclosed in connection with the new note offering, this filing provides the definitive notice and redemption date, finalizing the company's capital optimization efforts.