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Subsequent Events
6 Months Ended
Jun. 30, 2017
Subsequent Events [Abstract]  
Subsequent Events
16. Subsequent Events

Acquisition of Verde

On July 1, 2017, the Company and CenStar completed the acquisition from Verde Energy USA Holdings, LLC (the “Seller”) of all of the outstanding membership interests and stock in the Verde Companies (as defined in the Membership Interest and Stock Purchase Agreement, dated as of May 5, 2017, by and among the Company, CenStar and the Seller, as amended). Total consideration paid was approximately $85.8 million, of which approximately $20.8 million was used to purchase positive net working capital. The Company funded the closing consideration through: (i) approximately $6.8 million of cash on hand, (ii) approximately $15.0 million in subordinated debt from the Company's founder and majority shareholder through an existing subordinated debt facility, (iii) approximately $44.0 million in borrowings under its senior secured revolving credit facility, and (iv) the issuance by CenStar to the Seller of a promissory note in the aggregate principal amount of $20.0 million (the “Promissory Note”). The Company deposited $65.8 million of the purchase price due to the Seller before June 30, 2017, immediately prior to payment of such amount on the July 1, 2017 closing date, and has reflected the amount as a deposit in current assets as of June 30, 2017. In addition to the consideration paid at closing, CenStar is obligated to pay 100% of the Adjusted EBITDA earned by the Verde Companies for the 18 months following closing that exceeds certain thresholds, subject to the Verde Companies’ ability to achieve defined customer count criteria. Upon the close of the acquisition, the Verde Companies became restricted subsidiaries and co-borrowers under the Company's Senior Credit Facility.

Declaration of Dividends

On July 19, 2017, the Company declared a quarterly dividend of $0.18125 to holders of record of our Class A common stock on August 29, 2017 and payable on September 14, 2017.

On July 19, 2017, the Company declared a quarterly cash dividend in the amount of $0.546875 per share of Series A Preferred Stock. This amount represents an annualized dividend of $2.1875 per share. The dividend will be paid on October 16, 2017 to holders of record on October 1, 2017 of Spark's Series A Preferred Stock. The Company anticipates Series A Preferred Stock dividends declared of $2.9 million in the aggregate for the year ended December 31, 2017 based on the Series A Preferred Stock outstanding as of June 30, 2017.

At-the-Market Issuance Sales Agreement
On July 21, 2017, the Company entered into an At-the-Market Issuance Sales Agreement (“the ATM Agreement”) to periodically sell the Company’s Series A Preferred Stock, having an aggregate offering price of up to $50.0 million in market transactions.