Via Renewables announces Glass Lewis, ISS recommendations for merger pact

Via Renewables announced that independent proxy advisory firms Institutional Shareholder Services, or ISS, and Glass Lewis have both recommended that the company’s shareholders vote for each of: the approval of the Agreement and Plan of Merger, dated as of December 29, 2023, by and among the Company, Retailco, a Texas limited liability company, and NuRetailco, a Delaware limited liability company and wholly-owned subsidiary of Parent, pursuant to which Merger Sub would merge with and into the company with the company surviving the merger, following which all of the issued and outstanding shares of the company’s Class A common stock, par value $0.01 per share, would be acquired by Parent for $11.00 per share in cash except for the shares of Class A Common Stock held or beneficially owned by the company or any subsidiary of the Company, or (b) William Keith Maxwell, III and any person or entity controlled by Mr. Maxwell, including Parent, Merger Sub and NuDevco Retail, and any holder of record of Class A Common Stock who did not vote in favor of the merger proposal and is entitled to demand and validly demands appraisal of such shares of Class A Common Stock pursuant to, and complies in all respects with, Section 262 of the General Corporation Law of the State of Delaware; and the approval, on a non-binding, advisory basis, of the compensation that may become payable to the company’s named executive officers in connection with the merger.