Welcome to our dedicated page for Via Transportation news (Ticker: VIA), a resource for investors and traders seeking the latest updates and insights on Via Transportation stock.
Via Transportation, Inc. (NYSE: VIA) is a technology company focused on software and technology-enabled services for public transit systems, and its news flow reflects this focus. Company announcements often highlight how Via’s platform is used by cities and transit agencies to transform public transportation into dynamic, data- and demand-based networks that replace fragmented legacy systems and consolidate operations.
Investors and observers following VIA stock can expect news related to quarterly and annual financial results, including revenue trends, Platform Annual Run-Rate Revenue, customer count, and non-GAAP measures such as Adjusted Gross Profit and Adjusted EBITDA. Via regularly issues press releases about its earnings and furnishes these releases to the Securities and Exchange Commission on Form 8-K, providing updates on its operating performance and outlook.
Via’s news also covers corporate development activity, such as acquisitions and partnerships. For example, the company has announced the completion of its acquisition of Downtowner Transportation LLC, a transportation technology company focused on Destination Cities, and has referenced prior acquisitions of Remix and Citymapper. These items provide insight into how Via expands its platform capabilities and data assets. Strategic partnerships, such as its collaboration with Waymo to integrate autonomous ride-hailing services into public transit networks, are another recurring theme in Via’s news.
Legal and intellectual property developments may also appear in the news feed. Via has reported on patent litigation outcomes involving its virtual bus stop technology and microtransit patents, including court decisions awarding ongoing royalties on certain infringing products. Such updates shed light on the company’s efforts to protect and monetize its intellectual property.
By reviewing Via’s news page, readers can track financial announcements, M&A activity, partnerships with other transportation technology providers, and legal milestones that relate to the company’s public transit software and services. Bookmarking this page can help investors and industry participants monitor how Via’s platform and strategy evolve over time.
Via Renewables has completed its merger with NuRetailco under an Agreement and Plan of Merger dating from December 29, 2023. The merger was approved on June 7, 2024, and became effective on June 13, 2024.
Under the merger terms, each share of Via Renewables' Class A Common Stock was converted into $11 cash per share, except for certain excluded shares. The Class A Common Stock will be delisted from NASDAQ. The merger does not affect the listing of Series A Preferred Stock. Shareholders will receive instructions to exchange their shares for the merger consideration.
Via Renewables announced that its shareholders approved the merger with Retailco and its subsidiary NuRetailco At a special meeting, 83.3% of Class A and B common stock holders and 51.0% excluding certain insiders supported the merger. The executive compensation related to the merger was approved by 94.7% on a non-binding advisory basis. The merger is expected to be completed by the end of Q2 2024, leading to the de-listing of Via Renewables' Class A common stock from NASDAQ, while the Series A Preferred Stock will remain unaffected and continue trading on NASDAQ.
Via Renewables announced the adjournment of its Special Meeting of Shareholders to June 7, 2024, to allow additional time for voting on the Merger Proposal. Despite strong shareholder support, the proposal did not meet the 'majority of the minority' vote requirement. Over 81% of the common stock voted in favor, but only 44% of non-excluded and non-insider shares supported it. Shareholders are encouraged to vote promptly via phone, internet, or mail. The record date for voting eligibility remains March 25, 2024.
Via Renewables, Inc. reported strong financial results for the first quarter of 2024, with net income of $19.1 million, adjusted EBITDA of $15.1 million, gross profit of $45.1 million, and retail gross margin of $35.7 million. The total RCE count increased to 338,000, with an average monthly attrition of 3.9%. The company's CEO mentioned stable commodity prices and growth in RCEs despite higher attrition due to increased sales activity. Via Renewables also declared a dividend and announced an acquisition of 12,500 RCEs in existing markets.
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