Cloud Peak Energy Prices Public Offering of Common Stock
February 22 2017 - 06:50PM
Business Wire
Cloud Peak Energy Inc. (NYSE: CLD) (the “Company”) announced
that it has priced a registered underwritten public offering of
13,500,000 shares of its common stock at a price to the public of
$5.10 per share. The Company has granted the underwriters a 30-day
option to purchase 2,000,000 additional shares of its common
stock.
The Company intends to use the net proceeds from the offering to
fund the full redemption of its outstanding 8.50% Senior Notes due
2019 (the “2019 Notes”), plus accrued and unpaid interest to the
redemption date, with any remaining proceeds to be used for general
corporate purposes. The Company expects to close the offering on
February 28, 2017, subject to the satisfaction of customary closing
conditions.
Credit Suisse, J.P. Morgan and Jefferies are acting as joint
book-running managers. The offering will be made only by means of a
prospectus supplement and the accompanying base prospectus, copies
of which may be obtained on the Securities and Exchange
Commission’s (“SEC”) website at www.sec.gov when filed.
Alternatively, the underwriters will arrange to send you the
prospectus supplement and related base prospectus if you request
them by contacting Credit Suisse Securities (USA) LLC at Eleven
Madison Avenue, New York, NY 10010, Attention: Prospectus
Department or by calling (800) 221-1037; J.P. Morgan Securities LLC
at 1155 Long Island Avenue, Edgewood, NY 11717, Attention:
Broadridge Financial Services or by calling 1-866-803-9204; and
Jefferies LLC at 520 Madison Avenue, 2nd Floor, New York, NY 10022,
Attention: Equity Syndicate Prospectus Department or by calling
(877) 547-6340 or by emailing
Prospectus_Department@Jefferies.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy shares of common stock or any other
securities, nor shall there be any sale of shares of common stock
or any other securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction. A shelf registration statement relating to the
securities has been filed with the SEC and was declared effective
on December 20, 2016. The offering and sale of common stock will be
made pursuant to this effective shelf registration statement.
About Cloud Peak Energy®
Cloud Peak Energy Inc. (NYSE:CLD) is headquartered in Wyoming
and is one of the largest U.S. coal producers and the only
pure-play Powder River Basin (“PRB”) coal company. As one of the
safest coal producers in the nation, Cloud Peak Energy mines low
sulfur, subbituminous coal and provides logistics supply services.
The Company owns and operates three surface coal mines in the PRB,
the lowest cost major coal producing region in the nation. The
Antelope and Cordero Rojo mines are located in Wyoming and the
Spring Creek Mine is located in Montana. In 2016, Cloud Peak Energy
shipped approximately 59 million tons from its three mines to
customers located throughout the U.S. and around the world. Cloud
Peak Energy also owns rights to substantial undeveloped coal and
complimentary surface assets in the Northern PRB, further building
the Company’s long-term position to serve Asian export and domestic
customers. With approximately 1,300 total employees, the Company is
widely recognized for its exemplary performance in its safety and
environmental programs. Cloud Peak Energy is a sustainable fuel
supplier for approximately three percent of the nation’s
electricity.
Cautionary Note Regarding Forward-Looking Statements
This release contains “forward-looking statements” within the
meaning of the safe harbor provisions of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Forward-looking statements are not statements of
historical facts and often contain words such as “may,” “will,”
“expect,” “believe,” “anticipate,” “plan,” “estimate,” “seek,”
“could,” “should,” “intend,” “potential,” or words of similar
meaning. Forward-looking statements are based on management's
current expectations, beliefs, assumptions and estimates regarding
our company, industry, economic conditions, government regulations,
energy policies and other factors. Forward-looking statements may
include, for example, our ability to close this transaction, and
other statements regarding this transaction and our plans,
strategies, prospects and expectations concerning our business,
industry, economic conditions, operating results, financial
condition and other matters that do not relate strictly to
historical facts. These statements are subject to significant
risks, uncertainties, and assumptions that are difficult to predict
and could cause actual results to differ materially and adversely
from those expressed or implied in the forward-looking statements.
For a description of some of the risks and uncertainties that may
adversely affect our future results or the anticipated benefits of,
or our ability to consummate, this transaction, refer to the risk
factors described from time to time in the reports and registration
statements we file with the SEC, including those in Item 1A “Risk
Factors” of our most recent Annual Report on Form 10-K and Current
Reports on Form 8-K. There may be other risks and uncertainties
that are not currently known to us or that we currently believe are
not material. We make forward-looking statements based on currently
available information, and we assume no obligation to, and
expressly disclaim any obligation to, update or revise publicly any
forward-looking statements made in this release, whether as a
result of new information, future events or otherwise, except as
required by law.
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Cloud Peak Energy Inc.Lorri Owen, 720-566-2932Investor
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