Clean Energy Fuels Corporation Prices Initial Public Offering
May 25 2007 - 4:05PM
Business Wire
Clean Energy Fuels Corp. (NASDAQ:CLNE) today announced the pricing
of its initial public offering of 10,000,000 shares of its common
stock at a price to the public of $12.00 per share. The net
proceeds to the Company from this offering of approximately $108.8
million is expected to be used to build an LNG liquefaction plant
and CNG and LNG fueling stations, to finance the purchase of
natural gas vehicles by the Company�s customers, and for general
corporate purposes. Selling stockholders have granted the
underwriters a 30-day option to purchase up to an additional
1,500,000 shares of common stock to cover over-allotments, if any.
The Company expects to close the offering on May 31, 2007.
Following the closing, the shares will trade on the NASDAQ Global
Market under the symbol �CLNE.� WR Hambrecht + Co., LLC led the
offering, which was made through WR Hambrecht + Co�s OpenIPO
auction-based process. Simmons & Company International,
Susquehanna Financial Group, LLP, and NBF Securities (USA) Corp.
acted as co-managers of the offering. Copies of the final
prospectus relating to the offering may be obtained from WR
Hambrecht + Co at www.wrhambrecht.com by writing to P.O. Box 677,
Berwyn, PA 19132, or by calling 1-800-673-6476. Clean Energy Fuels
Corp. is the leading provider of natural gas as an alternative fuel
for vehicle fleets in the United States and Canada, offering a
comprehensive solution to enable vehicle fleets to run on natural
gas as an alternative to gasoline or diesel. This press release
shall not constitute an offer to sell or a solicitation of an offer
to buy any securities of the Company, nor will there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction. This release contains forward-looking statements
relating to future events and the Company�s expectations regarding
the offering and its use of proceeds. Although the Company believes
that such expectations are reasonable, it can give no assurance
that such expectations will provide to be correct. Except as
required by law, including U.S. securities laws and rules of the
SEC, the Company does not plan to publicly update or revise any
forward-looking statements, whether as a result of any new
information, future events or otherwise. Before you invest in the
Company�s stock, you should read the section entitled �Risk
Factors� in the prospectus relating to the offering.
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