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NiSource Inc T.NI


Primary Symbol: NI

NiSource Inc. is an energy holding company. The Company operates through two segments: Gas Distribution Operations and Electric Operations. The Gas Distribution operations segment, through its wholly owned subsidiary NiSource Gas Distribution Group, Inc., provides natural gas to approximately 2.4 million residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland. It operates approximately 55,000 miles of distribution main pipeline plus the associated individual customer service lines and 1,000 miles of transmission main pipeline located in its service areas. The Electric Operations segment generates, transmits and distributes electricity through its subsidiary NIPSCO to approximately 0.5 million customers in 20 counties in the northern part of Indiana and is also engaged in wholesale electricity and transmission transactions. It has four owned projects: Rosewater, Indiana Crossroads Wind, Indiana Crossroads Solar, and Dunns Bridge I.


NYSE:NI - Post by User

Bullboard Posts
Comment by Valkerieon Mar 19, 2014 1:46pm
166 Views
Post# 22341776

RE:RE:RE:RE:RE:Something missing

RE:RE:RE:RE:RE:Something missing
https://www.bloomberg.com/article/2014-02-24/aj4yZcyjqGPo.html

In this article it has the following.

"Nuinsco also provided a backstop to last year's Victory Nickel rights offering. "

I had no idea what a "BACKSTOP" is, so I found a definition at this link.

https://www.investopedia.com/terms/b/backstop_purchaser.asp

Backstopping can cost companies large fees when participating in a rights offering. Similar to an underwriter, the backstop purchaser takes on the risk of issuing new securities and is paid a premium for compensation. For example, when Berkshire Hathaway acted as a backstop purchaser for USG Corporation, it earned a non-refundable fee of $67 million for the service

JMHO but its very possible that there may have been a disagreement about the fee for said services and that's why that NWI director moved on.
Bullboard Posts