# EDGAR Filing Document

**Accession Number:** 0001606268
**File Stem:** 0001654954-23-003186
**Filing Date:** 2023-3
**Character Count:** 20906
**Document Hash:** 66e58862bc481096b0bada8d75a5bdfc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001654954-23-003186.hdr.sgml**: 20230320

**ACCESSION NUMBER**: 0001654954-23-003186

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20230320

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Submission of Matters to a Vote of Security Holders

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230320

**DATE AS OF CHANGE**: 20230320

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Via Renewables, Inc.
- **CENTRAL INDEX KEY:** 0001606268
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC & OTHER SERVICES COMBINED [4931]
- **IRS NUMBER:** 465453215
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36559
- **FILM NUMBER:** 23746831

**BUSINESS ADDRESS:**
- **STREET 1:** 12140 WICKCHESTER LANE
- **STREET 2:** SUITE 100
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77079
- **BUSINESS PHONE:** (713) 600-2600

**MAIL ADDRESS:**
- **STREET 1:** 12140 WICKCHESTER LANE
- **STREET 2:** SUITE 100
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77079

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Spark Energy, Inc.
- **DATE OF NAME CHANGE:** 20140423

?xml version="1.0" encoding="utf-8"?via_8k.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(D)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): March 20, 2023**

---

| |
|:---|
| **Via Renewables, Inc.** |
| **(Exact Name of Registrant as Specified in its Charter)** |

---

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-36559** | **46-5453215** |
| **(State or Other Jurisdiction**<br>**of Incorporation)** | **(Commission**<br>**File Number)** | **(IRS Employer**<br>**Identification Number)** |

---

**12140 Wickchester Ln, Ste 100**

**Houston, Texas 77079**

**(Address of Principal Executive Offices)**

**(Zip Code)**

**(713) 600-2600**

**(Registrant's Telephone Number, Including Area Code)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbols(s)** | **Name of exchange on which registered** |
| Class A common stock, par value $0.01 per share | VIA | The NASDAQ Global Select Market |
| 8.75% Series A Fixed-to-Floating Rate <br>Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share | VIASP | The NASDAQ Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 3.03. Material Modification to Rights of Security Holders.**

To the extent required by Item 3.03 of Form 8-K, the information contained in each of Items 5.03, 5.07 and 8.01 of this report is incorporated by reference herein.

**Item 5.03. Amendments to Articles of Incorporation of Bylaws; Change in Fiscal Year.**

On March 20, 2023, Via Renewables, Inc. (the "Company") held a Special Meeting of Shareholders (the "Special Meeting") at which the Company's shareholders approved an amendment (the "Certificate of Amendment") to the Company's Amended and Restated Certificate of Incorporation to effect a reverse stock split of the Company's issued and outstanding (i) Class A common stock, par value $0.01 per share (the "Class A common stock"), at a ratio between 1 for 2 to 1 for 5 and (ii) Class B common stock, par value $0.01 per share (the "Class B common stock" and, together with the Class A common stock, the "Common Stock"), at a ratio between 1 for 2 to 1 for 5, such ratios to be determined by the Chief Executive Officer or the Chief Financial Officer of the Company, or to determine not to proceed with the reverse stock split, without further approval or authorization of the Company's shareholders, during a period of time not to exceed the one-year anniversary of the date on which the reverse stock split is approved by the Company's shareholders at the Special Meeting (the "Reverse Stock Split").

On March 20, 2023, the Company filed with the Delaware Secretary of State the Certificate of Amendment to the Company's Amended and Restated Certificate of Incorporation to effect the Reverse Stock Split at a ratio of 1 for 5 for each share of Common Stock effective as of March 21, 2023 at 5:30 PM ET. Other than the Reverse Stock Split, no changes were made to the Company's Amended and Restated Certificate of Incorporation.

As a result of the Reverse Stock Split, every 5 shares of issued and outstanding Common Stock will be automatically combined into one issued and outstanding share of Common Stock, without any change in the par value per share. No fractional shares will be issued as a result of the Reverse Stock Split. Any fractional shares that would otherwise have resulted from the Reverse Stock Split will be rounded up the next whole number. The number of authorized shares of Common Stock under the Company's Amended and Restated Certificate of Incorporation as amended by the Certificate of Amendment, will remain unchanged at 120,000,000 shares of Class A common stock and 60,000,000 shares of Class B common stock.

Proportionate adjustments will be made, as necessary, to the outstanding equity awards granted by the Company, and, if necessary, the number of shares reserved for issuance under the Company's Second Amended and Restated Long Term Incentive Plan will be proportionately reduced in accordance with the terms of such plan.

For more information about the Reverse Stock Split, see the Company's definitive proxy statement filed with the U.S. Securities and Exchange Commission on February 27, 2023. The information set forth herein is qualified in its entirety by reference to the complete text of the Certificate of Amendment, a copy of which is filed with this report as Exhibit 3.1 and is incorporated by reference herein.

**Item 5.07. Submission of Matters to a Vote of Security Holders.**

The Company held the Special Meeting on March 20, 2023. A total of 31,880,163 shares of the Class A common stock and Class B common stock representing 88.9% of the total shares of Common Stock outstanding and eligible to vote as of the record date, were represented in person or by valid proxies at the Special Meeting. The percentage constituted a quorum. The final results at the Special Meeting were as follows:

*Proposal 1*: The Reverse Stock Split was approved by the votes set forth in the table below:

---

| | | |
|:---|:---|:---|
| **<u>For</u>** | **<u>Against</u>** | **<u>Abstain</u>** |
| 27,416,243 | 4,320,584 | 143,336 |

---

2<br>

**Item 8.01. Other Events.**

The Company issued a press release on March 20, 2023 announcing that it would consummate the Reverse Stock Split and the corresponding change of the CUSIP number for its Class A common stock, as described below. A copy of that press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

In connection with the Reverse Stock Split, the CUSIP number for the Company's Class A common stock will change. At the beginning of trading on March 22, 2023 or as soon thereafter as practicable, the Company's Class A common stock is expected to begin trading on a reverse stock split-adjusted basis on the NASDAQ Global Select Market under the CUSIP number 92556D304. The trading symbol for the Class A common stock will remain "VIA."

**Item 9.01. Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits:

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [3.1](via_ex31.htm) | [Certificate of Amendment of Amended and Restated Certificate of Incorporation of the Company.](via_ex31.htm) |
| [99.1](via_ex991.htm) | [Press Release of Via Renewables, Inc. dated March 20, 2023](via_ex991.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [3.1](via_ex31.htm) | [Certificate of Amendment of Amended and Restated Certificate of Incorporation of the Company.](via_ex31.htm) |
| [99.1](via_ex991.htm) | [Press Release of Via Renewables, Inc. dated March 20, 2023](via_ex991.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

3<br>

**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 hereunto duly authorized.

Dated: March 20, 2023

---

| | |
|:---|:---|
| **Via Renewables, Inc.** | **Via Renewables, Inc.** |
| By: | /s/ Mike Barajas |
| Name: | Mike Barajas |
| Title: | Chief Financial Officer |

---

4<br>

## Exhibit 3.1

**EXHIBIT 3.1**

**CERTIFICATE OF AMENDMENT**

**OF**

**AMENDED AND RESTATED CERTIFICATE OF INCORPORATION**

**OF**

**VIA RENEWABLES, INC.**

Via Renewables, Inc. (the "***Corporation***"), a corporation organized and existing under the General Corporation Law of the State of Delaware as set forth in Title 8 of the Delaware Code (the "***DGCL***"), hereby certifies as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. This Certificate of Amendment (the "***Certificate of Amendment***") amends the provisions of the Corporation's Amended and Restated Certificate of Incorporation filed with the Secretary of State on August 1, 2014 (the "***Certificate of Incorporation***").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. That the Board of Directors of the Corporation duly adopted resolutions through a unanimous written consent setting forth the following Certificate of Amendment of the Certificate of Incorporation of the Corporation, declaring said Certificate of Amendment to be advisable and calling a meeting of the stockholders of said Corporation for consideration thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. That thereafter, pursuant to a resolution of its Board of Directors, a special meeting of the stockholders of said Corporation was duly called and held upon notice in accordance with Section 222 of the DGCL at which meeting the necessary number of shares as required by statute were voted in favor of this Certificate of Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. That the Certificate of Incorporation of this Corporation be amended by changing the Article thereof numbered "FOURTH" by inserting the following immediately after the first sentence thereof, as follows:

"Upon the filing and effectiveness (the "<u>Effective Time</u>"), pursuant to the DGCL, of this Certificate of Amendment to the Amended and Restated Certificate of Incorporation of the Corporation, each (i) five shares of Class A Common Stock and either issued and outstanding or held by the Corporation in treasury stock immediately prior to the Effective Time shall, automatically and without any action on the part of the respective holders thereof, be combined and converted into one share of Class A Common Stock and (ii) five shares of Class B Common Stock and either issued and outstanding or held by the Corporation in treasury stock immediately prior to the Effective Time shall, automatically and without any action on the part of the respective holders thereof, be combined and converted into one share of Class B Common Stock (the "<u>Reverse Stock Split</u>"). No fractional shares shall be issued in connection with the Reverse Stock Split. Holders of Common Stock who otherwise would be entitled to receive fractional shares of Common Stock because they hold a number of shares not evenly divisible by the Reverse Stock Split ratio will automatically be entitled to receive an additional fraction of a share of Common Stock to round up to the next whole share of Common Stock in lieu of any fractional share created as a result of such Reverse Stock Split. Each certificate that immediately prior to the Effective Time represented shares of Common Stock (the "<u>Old Certificates</u>"), shall thereafter represent that number of shares of Common Stock into which the shares of Common Stock represented by the Old Certificate shall have been combined, subject to the elimination of fractional share interests as described above. Each holder of an Old Certificate shall receive, upon surrender of such Old Certificate, a new certificate representing the number of whole shares of Common Stock to which such shareholder is entitled pursuant to the Reverse Stock Split."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. This Certificate of Amendment has been approved and duly adopted in accordance with the provisions of Section 242 of the DGCL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The effective date and time of this Certificate of Amendment shall be March 21, 2023 at 5:30 PM Eastern Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. All other provisions of the Certificate of Incorporation shall remain in full force and effect.

[*Signature Page Follows*]

2<br>

**IN WITNESS WHEREOF,** the undersigned has executed this Certificate of Amendment to the Amended and Restated Certificate of Incorporation as of this 20th day of March, 2023.

---

| | |
|:---|:---|
| **VIA RENEWABLES, INC.** | **VIA RENEWABLES, INC.** |
| By: | /s/ Mike Barajas |
| Name:  | Mike Barajas |
| Title: | Chief Financial Officer |

---

3<br>

## Exhibit 99.1

**EXHIBIT 99.1**

**Via Renewables, Inc. Announces 1 for 5 Reverse Stock Split**

HOUSTON, March 20, 2023 (ACCESSWIRE) – Via Renewables, Inc. ("Via Renewables" or the "Company") (NASDAQ: VIA, VIASP), an independent retail energy services company, announced that its shareholders overwhelmingly approved a proposal by the Company's Board of Directors to consummate a reverse stock split of the Company's Class A common stock, par value $0.01 per share (the "Class A common stock"), at a ratio between 1 for 2 to 1 for 5 and (ii) Class B common stock, par value $0.01 per share (the "Class B common stock" and, together with the Class A common stock, the "Common Stock"), at a ratio between 1 for 2 to 1 for 5, with such ratios to be determined by the Chief Executive Officer or the Chief Financial Officer of the Company, or to determine not to proceed with the reverse stock split, without further approval or authorization of the Company's shareholders, during a period of time not to exceed the one-year anniversary of the date on which the reverse stock split is approved by the Company's shareholders (the "Reverse Stock Split").

The Company plans to file today with the Delaware Secretary of State the Certificate of Amendment to the Company's Amended and Restated Certificate of Incorporation to effect the Reverse Stock Split for each share of Common Stock issued and outstanding as of March 21, 2023 at 5:30 PM ET. Other than the Reverse Stock Split, no changes were made to the Company's Amended and Restated Certificate of Incorporation.

As a result of the Reverse Stock Split, every five shares of issued and outstanding Common Stock will be automatically combined into one issued and outstanding share of Common Stock, without any change in the par value per share. No fractional shares will be issued as a result of the Reverse Stock Split. Any fractional shares that would otherwise have resulted from the Reverse Stock Split will be rounded up the next whole number. The number of authorized shares of Common Stock under the Company's Amended and Restated Certificate of Incorporation as amended by the Certificate of Amendment, will remain unchanged at 120,000,000 shares of Class A common stock and 60,000,000 shares of Class B common stock.

In connection with the Reverse Stock Split, the CUSIP number for the Company's Class A common stock will change. At the beginning of trading on March 22, 2023 or as soon thereafter as practicable (the "Marketplace Effective Date"), the Company's Class A common stock is expected to begin trading on a reverse stock split-adjusted basis on the NASDAQ Global Select Market under the CUSIP number 92556D304. The trading symbol for the Class A common stock will remain "VIA."

For more information about the Reverse Stock Split, see the Company's definitive proxy statement filed with the U.S. Securities and Exchange Commission on February 27, 2023, the relevant portions of which are incorporated herein by reference.

**About Via Renewables, Inc.**

Via Renewables, Inc. is an independent retail energy services company founded in 1999 that provides residential and commercial customers in competitive markets across the United States with an alternative choice for natural gas and electricity. Headquartered in Houston, Texas, Via Renewables currently operates in 103 utility service territories across 20 states and the District of Columbia. Via Renewables offers its customers a variety of product and service choices, including stable and predictable energy costs and green product alternatives.

We use our website as a means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD. Investors should note that new materials, including press releases, updated investor presentations, and financial and other filings with the Securities and Exchange Commission are posted on the Via Renewables Investor Relations website at https://viarenewables.com/. Investors are urged to monitor our website regularly for information and updates about the Company.

**Cautionary Note Regarding Forward Looking Statements**

This press release contains forward-looking statements that are subject to a number of risks and uncertainties, many of which are beyond our control. These forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") can be identified by the use of forward-looking terminology including "may," "should," "could," "likely," "will," "believe," "expect," "anticipate," "estimate," "continue," "plan," "intend," "project," or other similar words. All statements, other than statements of historical fact included in this press release are forward-looking statements. The forward-looking statements include statements regarding the anticipated filing of the Certificate of Amendment to consummate the Reverse Stock Split and the expected Marketplace Effective Date for the Reverse Stock Split. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we cannot give any assurance that such expectations will prove correct.

The forward-looking statements in this press release are subject to risks and uncertainties. All forward-looking statements speak only as of the date of this press release. Unless required by law, we disclaim any obligation to publicly update or revise these statements whether as a result of new information, future events or otherwise. It is not possible for us to predict all risks, nor can we assess the impact of all factors on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

**For further information, please contact:**

**Investor Relations:**

Stephen Rabalais,

832-200-3727

**Media Relations:**

Kira Jordan,

832-255-7302