Summary by Futu AI
On November 17, 2024, Vistra Operations Company LLC and Vistra Vision Holdings I LLC entered into a letter agreement with Avenue Capital Management to amend their original Unit Purchase Agreement for Vistra Vision LLC. The amendment is contingent on Vistra successfully pricing at least $1.25 billion of notes through a private offering by December 20, 2024.If the financing condition is met, the amended agreement will require full payment to Avenue in a single installment at the closing of the transaction, expected on December 31, 2024. This amendment applies to the purchase of Avenue's and Nuveen's combined 15% equity interest in Vistra Vision. If the financing condition is not met, the original agreement terms will remain in effect.The letter agreement and potential amended UPA are subject to customary representations, warranties, and confidentiality provisions. Vistra Corp. filed this information in a Form 8-K on November 19, 2024, emphasizing that the disclosed agreements are for informational purposes and may not reflect the actual state of affairs between the parties.