Short answer
SPIRE INC (SR) filed an 8-K current report with the SEC on April 15, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 7.01 (Regulation FD Disclosure), Item EX-99.1 (Exhibit EX-99.1). Spire agreeing to sell Belle Butte, including Wyoming and Oklahoma gas storage assets, to I Squared Capital affiliate Subterra Energy Holdings.
SPIRE INC 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- Spire agreeing to sell Belle Butte, including Wyoming and Oklahoma gas storage assets, to I Squared Capital affiliate Subterra Energy Holdings
- $600 million cash at closing plus $50 million deferred consideration due by September 2027
- Proceeds monetize underground storage operations while removing associated assets and earnings from Spire’s portfolio
- Closing expected in the second half of fiscal 2026, subject to regulatory review and customary conditions
Item 7.01 · Regulation FD Disclosure
- Reg FD disclosure centers on proposed Transaction, with completion dependent on required regulatory clearances
- Closing risk includes delays, termination events, and failure to satisfy transaction conditions
- Potential shareholder risks include transaction costs, operational disruption, and loss of key personnel
- Spire warns anticipated transaction benefits may not materialize and business relationships could deteriorate
- Forward-looking statements carry no update obligation except where required by law
Item EX-99.1 · Exhibit EX-99.1
- Spire agreed to sell Wyoming and Oklahoma gas storage assets to I Squared for $650 million
- Consideration includes $600 million cash at closing and $50 million deferred payment in fiscal 2027
- Proceeds expected to partially fund Spire’s Piedmont Natural Gas Tennessee acquisition and complete related financing
- Storage capacity totals up to 72 Bcf across Western and Mid-Continent markets
- Fiscal 2027 adjusted EPS guidance remains $5.40–$5.60, reflecting storage sale and full-year Tennessee contributions
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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