UGI Corporation Announces Final Remarketing Period for its Series A Cumulative Perpetual Convertible Preferred Stock Relating to its 2021 Equity Units Offering

Rhea-AI Summary

UGI (NYSE: UGI) announced the final remarketing period for its 0.125% Series A Cumulative Perpetual Convertible Preferred Stock. The period starts on May 23, 2024, and ends on May 30, 2024. The Convertible Preferred Stock has a liquidation preference of $1,000 per share. The Company issued this stock as part of its equity units in May 2021. There is no guarantee of successful remarketing during this period.

VALLEY FORGE, Pa.--(BUSINESS WIRE)-- UGI Corporation (NYSE: UGI) (The “Company”) announced today the period beginning on May 23, 2024 and ending on, and including, May 30, 2024, as the final remarketing period for its 0.125% Series A Cumulative Perpetual Convertible Preferred Stock, without par value, with a liquidation preference of $1,000 per share (the “Convertible Preferred Stock”), originally issued on May 25, 2021 as part of Company’s equity units. No assurance can be given that the Convertible Preferred Stock will be successfully remarketed during the final remarketing period.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Convertible Preferred Stock nor shall there be any sale of the Convertible Preferred Stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About UGI Corporation

UGI Corporation (NYSE: UGI) is a distributor and marketer of energy products and services in the US and Europe. UGI offers safe, reliable, affordable, and sustainable energy solutions to customers through its subsidiaries, which provide natural gas transmission and distribution, electric generation and distribution, midstream services, propane distribution, renewable natural gas generation, distribution and marketing, and energy marketing services.

Forward-Looking Statements

This press release includes forward-looking statements, including statements regarding the remarketing period for the Company’s Convertible Preferred Stock. Forward-looking statements represent UGI’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions and risks relating to UGI’s business, including those described in periodic reports that UGI files from time to time with the SEC. The forward-looking statements included in this press release speak only as of the date of this press release, and UGI does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.

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Investor Relations

610-337-1000

Tameka Morris, ext. 6297

Arnab Mukherjee, ext. 7498

Source: UGI Corporation

FAQ

When does the final remarketing period for UGI's Convertible Preferred Stock start?

The final remarketing period starts on May 23, 2024.

What is the liquidation preference per share for UGI's Convertible Preferred Stock?

The liquidation preference per share is $1,000.

Is there a guarantee of successful remarketing during the final period for UGI's Convertible Preferred Stock?

No, there is no assurance of successful remarketing during this period.