Every 424B that Spire Inc. (SR) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow SR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SR filings page.
Spire Inc. is issuing $400 million of 4.600% senior notes due September 1, 2031. The notes are priced at 99.754% of face value, with expected net proceeds of about $395.4 million.
Spire plans to use $350 million of the proceeds to repay outstanding notes due 2026 and may apply any remainder toward funding its proposed $2.48 billion acquisition of Piedmont’s Tennessee natural gas business or for general corporate purposes. The notes are unsecured senior obligations of the holding company, structurally subordinated to over $3.09 billion of subsidiary debt, and will not be listed on any exchange. The filing also presents historical and pro forma financials reflecting the pending Piedmont Acquisition, which is subject to regulatory approvals and carries integration and financing risks.
Spire Inc. plans to issue $350 million of senior notes due 2031, paying fixed semi-annual interest and redeemable at Spire’s option before maturity. The company expects to use the net proceeds to repay $350 million of notes maturing in 2026, with any remainder available to help fund its planned Piedmont Tennessee gas business acquisition or general purposes.
The Piedmont Acquisition carries a stated purchase price of $2.48 billion and would add over 200,000 Nashville-area customers, to be operated as Spire Tennessee Inc. Pro forma for the deal and related financings, fiscal 2025 combined revenue would have been about $2.78 billion, with net income of $233.9 million and diluted earnings per share of $3.73, reflecting higher interest costs and a larger asset base.
Spire Inc. is offering $200,000,000 of 6.375% junior subordinated notes due 2086, with an option for underwriters to buy up to an additional $30,000,000. The notes pay interest quarterly starting June 1, 2026, and can be redeemed by Spire starting March 1, 2031, or earlier upon specified tax or rating-agency events. Spire may defer interest for up to 40 consecutive quarters, during which unpaid interest compounds.
Net proceeds of about $193.5 million (or $222.5 million if the over-allotment is fully exercised) are intended to help redeem all $250 million liquidation preference of its 5.90% Series A preferred stock and to fund general corporate purposes. The notes are deeply subordinated to Spire’s senior debt and structurally subordinated to subsidiary obligations, and Spire plans to list them on the New York Stock Exchange. The supplement also describes a pending $2.48 billion Piedmont Tennessee gas business acquisition and related pro forma financials and risks.
Spire Inc. is issuing new junior subordinated notes due 2086, with quarterly interest that can be deferred for up to 40 consecutive quarters, and plans to list the notes on the New York Stock Exchange. The company expects to use the net proceeds, together with other funds, to redeem all outstanding 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock with a $250.0 million liquidation preference and for general corporate purposes.
The notes rank junior to approximately $2,297.0 million of parent-level Priority Indebtedness and are structurally subordinated to about $2,899.1 million of subsidiary long-term debt as of September 30, 2025. Spire is also pursuing the $2.48 billion Piedmont Acquisition of a Tennessee gas utility serving about 205,000 customers, with pro forma combined operating revenues of $2,781.0 million and net income of $233.9 million for the year ended September 30, 2025, assuming completion and related financing.
Spire Inc. is offering $900,000,000 principal amount of junior subordinated notes, split between $450,000,000 6.250% Series A Notes and $450,000,000 6.450% Series B Notes, both maturing June 1, 2056. The Series A coupon resets in 2031 and Series B in 2036 to the Five-Year Treasury Rate plus fixed spreads, with floors at their initial rates.
Interest is payable semi-annually, and Spire can defer payments on either series for up to 10 consecutive years, during which unpaid interest compounds. The notes are subordinated to about $2,297.0 million of Spire’s priority indebtedness and structurally subordinated to approximately $2,899.1 million of subsidiary debt, and will not be listed on an exchange. Spire expects net proceeds of about $888.8 million, to be used with other financing to help fund the $2.48 billion Piedmont Tennessee natural gas acquisition serving about 205,000 customers.