Vistra Energy issued the following announcement on June 27.
Vistra Energy Corp. (NYSE: VST) today announced the settlement rate for the stock purchase contracts that are components of the 7.00% tangible equity units (NYSE: DYN.C). Vistra (as successor in interest to Dynegy Inc.) is party to that certain purchase contract agreement dated as of June 21, 2016 (as amended and supplemented, the “Purchase Contract Agreement”), by and between Vistra and Wilmington Trust, National Association, as the purchase contract agent and as the trustee.
In accordance with Section 4.01 of the Purchase Contract Agreement, holders of the stock purchase contracts will receive 4.0813 shares of Vistra common stock (the “Settlement Amount”) for each stock purchase contract that they hold, with cash to be paid in lieu of any fractional shares at a rate of $22.5954 per share. The Settlement Amount is equal to the sum of the Daily Settlement Amounts for each of the 20 consecutive VWAP Trading Days during the Observation Period (in each case, as such term is defined in the Purchase Contract Agreement), which began on May 30, 2019 and ended on June 26, 2019.
On July 1, 2019, the final cash installment payment of $1.7500 payable per amortizing note, which are also components of the 7.00% tangible equity units, will be paid to each noteholder of record as of the close of business on June 15, 2019.
Original source can be found here.
