UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 7.01 Regulation FD Disclosure.
On June 20, 2023, the Company issued the attached release (the “Press Release”) relating to the Company’s completion of its redemption of all outstanding shares of its Series 2012-A Preferred Stock. A copy of the Press Release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
The Company is furnishing the information contained in this Report, including Exhibit 99.1, pursuant to Item 7.01 of Form 8-K promulgated by the Securities and Exchange Commission (the “SEC”). This information shall not be deemed to be “filed” with the SEC or incorporated by reference into any other filing with the SEC.
Item 8.01 Other Events.
The information contained in Item 7.01 above is incorporated herein by reference into this Item 8.01.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. |
Document | |
99.1 | Press Release, dated June 20, 2023. | |
104. | Cover Page Interactive Data File, formatted in Inline XBRL document |
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SIGNATURE
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.
GENIE ENERGY LTD. | |||
By: | /s/ Michael Stein | ||
Name: | Michael Stein | ||
Title: | Chief Executive Officer |
Dated: June 20, 2023
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Exhibit Index
Exhibit No. |
Document | |
99.1 | Press Release, dated June 20, 2023. | |
104. | Cover Page Interactive Data File, formatted in Inline XBRL document |
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Exhibit 99.1
Genie Energy Announces Completion of Preferred Stock Redemption
NEWARK, NJ – June 20, 2023: Genie Energy Ltd., (NYSE: GNE), (“Genie Energy”) a leading retail energy and renewable energy solutions provider, announced today that it completed the scheduled redemption of all outstanding shares of its Series 2012-A Preferred Stock (“Preferred Stock”) on June 16, 2023.
The Preferred Stock was redeemed for $8.50 per share and an additional $0.1349 per share in accrued dividends. The aggregate redemption payment was $6.5 million.
Following the redemption, there are no shares of Preferred Stock outstanding, all rights of Preferred Stockholders have terminated, and the Preferred Stock’s ticker symbol, GNEPRA, has been retired.
Michael Stein, CEO of Genie Energy, commented, “With the redemption of our preferred shares complete, and no debt outstanding, our common stockholders will now capture the undiluted value of Genie’s dynamic, rapidly growing retail energy supply and renewable energy businesses.”
Questions regarding the redemption of the Series A Preferred Stock may be directed to the company’s redemption agent:
American Stock Transfer & Trust Company, LLC
6201 15th Avenue
Brooklyn, NY 11219
Attention: Corporate Actions
Tel.: (800) 937-5449
(718) 921-8317
About Genie Energy Ltd.
Genie Energy Ltd., (NYSE: GNE) is a retail energy and renewable energy solutions provider. The Genie Retail Energy division supplies electricity, including electricity from renewable resources, and natural gas to residential and small business customers in the United States. The Genie Renewables division is a vertically-integrated provider of commercial, community, and utility-scale solar energy solutions. For more information, visit Genie.com.
Genie Energy Investor Relations Contact:
Brian Siegel IRC, MBA
Senior Managing Director
Hayden IR
(346) 396-8696
brian@haydenir.com
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