Vivint Smart Home ticks higher amid NYSE delisting notice on NRG deal
Mar. 06, 2023 12:44 PM ETVivint Smart Home, Inc. (VVNT), NRGBy: Joshua Fineman, SA News Editor1 Comment
Ethan Miller
- Vivint Smart Home (NYSE:VVNT) ticked up 0.4% after a New York Stock Exchange delisting notice amid the company's planned sale to NRG Energy (NYSE:NRG).
- A NYSE delisting notice indicates the effective date for Vivint's (VVNT) delisting from the exchange is Friday.
- The update comes as some investors and analysts were concerned at one point that last month's jury verdict against Vivint (VVNT), which agreed to sell itself to NRG Energy (NRG) in December, may cause NRG to seek a price cut or try to terminate the deal. Those fears appeared to be allayed last Wednesday when NRG said it intends to use proceeds from a $740 million notes offering to partially fund the purchase of Vivint Smart.
- Vivint Smart (VVNT) short interest is 15.5%.
- NRG Energy (NRG) agreed to acquire Vivint Smart or $12/share, or $5.2 billion in cash and debt, in December.