NiSource falls on decision to remarket preferred convertible shares

NiSource

15/09/2023 12:48

** Shares of utilities firm NiSource  NI.N  fall 3.3% to
$26.82 premarket 
    ** Co intends to remarket 862,500 of its preferred
convertible shares 
    ** Each outstanding preferred share will automatically
convert into shares of NiSource common stock between 34.91 and
41.02 as of March 1 - co
    ** Dividends on preferred stock may become payable, subject
to sucessful marketing 
    ** NiSource will not directly receive any of the proceeds;
but a portion will be used to purchase a portfolio of U.S.
Treasury securities 
    ** NI up 1.2% this year, until last close

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))