PR Newswire
IRVING, Texas, April 9, 2018
IRVING, Texas, April 9, 2018 /PRNewswire/ -- On April 9, 2018, Vistra Energy Corp. (NYSE: VST) ("Vistra Energy"), the parent company for TXU Energy and Luminant, completed its previously announced merger with Dynegy Inc. (NYSE: DYN) ("Dynegy"), with Vistra Energy continuing as the surviving entity (the "Merger"). As a result of the Merger, each share of common stock of Dynegy, excluding shares of common stock of Dynegy owned by Vistra Energy, held in treasury by Dynegy, or owned by their respective wholly owned subsidiaries, was converted into a right to receive 0.652 shares of common stock of Vistra Energy. Further, as a result of the Merger, among other things, Vistra Energy assumed all of Dynegy's obligations under the purchase contract agreement dated as of June 21, 2016 (the "Purchase Contract Agreement") by and between Dynegy and Wilmington Trust, National Association, as the purchase contract agent and as the trustee, pursuant to which Dynegy had previously issued the prepaid stock purchase contracts that form a component part of its 4,600,000 7.00% Tangible Equity Units ("TEUs"). Following the Merger, the TEUs will continue to trade on the New York Stock Exchange under their current ticker symbol (NYSE: DYNC).
The Merger constitutes a Merger Event (as defined in the Purchase Contract Agreement) pursuant to Section 5.02(e) of the Purchase Contract Agreement whereupon the right to settlement of each Tangible Equity Unit into shares of common stock of Dynegy will be changed into a right of settlement into shares of common stock of Vistra Energy and, as a result, from and after the effective time of the Merger:
This adjustment effectively changes the Reference Price per share to $24.7393 from $16.13 and the Threshold Appreciation Price to $30.5521 from $19.92, in each case, subject to further adjustment from time to time as provided in the Purchase Contract Agreement.
This adjustment also changes the Fundamental Change Early Settlement Rates and Stock Prices set forth in the table included in Section 5.02(e) as follows:
| Stock Price | |||||||||||
Effective Date | $6.1350 | $12.2699 | $18.4049 | $21.4724 | $24.7393 | $27.6074 | $30.5521 | $38.3436 | $46.0123 | $53.6810 | $61.3497 | $76.6871 |
June 21, 2016 | 3.9449 | 3.7558 | 3.5931 | 3.5312 | 3.4778 | 3.4398 | 3.4079 | 3.3486 | 3.3135 | 3.2918 | 3.2781 | 3.2731 |
October 1, 2016 | 3.9617 | 3.7811 | 3.6131 | 3.5477 | 3.4908 | 3.4502 | 3.4160 | 3.3529 | 3.3159 | 3.2934 | 3.2793 | 3.2731 |
January 1, 2017 | 3.9760 | 3.8052 | 3.6327 | 3.5636 | 3.5033 | 3.4600 | 3.4236 | 3.3565 | 3.3176 | 3.2944 | 3.2800 | 3.2731 |
April 1, 2017 | 3.9891 | 3.8302 | 3.6535 | 3.5807 | 3.5163 | 3.4701 | 3.4311 | 3.3597 | 3.3189 | 3.2949 | 3.2804 | 3.2731 |
July 1, 2017 | 4.0009 | 3.8570 | 3.6768 | 3.5996 | 3.5306 | 3.4808 | 3.4389 | 3.3624 | 3.3195 | 3.2948 | 3.2803 | 3.2731 |
October 1, 2017 | 4.0114 | 3.8857 | 3.7030 | 3.6209 | 3.5464 | 3.4924 | 3.4468 | 3.3645 | 3.3193 | 3.2940 | 3.2798 | 3.2731 |
January 1, 2018 Werbung Mehr Nachrichten zur Dynegy Aktie kostenlos abonnieren
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