Clean Energy Fuels Prices Follow-On Public Offering of Common Stock
June 26 2009 - 6:00AM
Business Wire
Clean Energy Fuels Corp. (Nasdaq: CLNE) today announced the
pricing of its follow-on public offering of 8,200,000 shares of
common stock, at a public offering price of $8.30 per share. The
Company has granted the underwriters a 30-day option from the date
of the final prospectus supplement to purchase up to 1,230,000
additional shares of its common stock to cover overallotments, if
any. The offering is expected to close on July 1, 2009, subject to
customary closing conditions.
Clean Energy intends to use the net proceeds from the offering,
after deducting underwriting discounts and Clean Energy�s expenses
related to the offering, for working capital and other general
corporate purposes, which may include capital expenditures related
to station construction activities, investment in its LNG plants
and biomethane production plant or future acquisitions of natural
gas fueling infrastructure, vehicle or services businesses and
biomethane production assets.
Merrill Lynch & Co. is acting as sole book-running manager
for the offering. Lazard Capital Markets, Janney Montgomery Scott
and Craig-Hallum Capital Group are acting as co-managers.
The offering is being made under the Company�s shelf
registration statement filed with and declared effective by the
Securities and Exchange Commission (SEC). The offering is being
made only by means of a prospectus, filed with the SEC. Prospective
investors should read the prospectus supplement and the shelf
registration statement for more complete information about Clean
Energy and the offering. Copies of the prospectus supplement and
the accompanying prospectus may be obtained by visiting EDGAR on
the SEC�s Web site at http://www.sec.gov or by contacting Merrill
Lynch & Co., 4 World Financial Center, New York, NY 10080,
Attention: Prospectus Department, or at 212.449.1000; Lazard
Capital Markets at 212.632.6717; Janney Montgomery Scott at
617.557.2971; and Craig-Hallum Capital Group at 612.334.6357.
This press release does not constitute a solicitation of an
offer to buy, or an offer to sell, shares of common stock, 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 of the shares under the
securities laws of any such state or jurisdiction.
About Clean Energy Fuels
Clean Energy is the leading provider of natural gas (CNG and
LNG) for transportation in North America. It has a broad customer
base in the refuse, transit, ports, shuttle, taxi, trucking,
airport and municipal fleet markets, fueling more than 17,200
vehicles at 184 strategic locations across the U.S. and Canada.
Clean Energy owns and operates two LNG production plants, one in
Willis, Texas and one in Boron, Calif., with combined capacity of
260,000 LNG gallons per day and designed to expand to 340,000 LNG
gallons per day as demand increases. It also owns and operates a
landfill gas processing facility in Dallas that produces renewable
biomethane gas for delivery in the nation�s gas pipeline
network.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of federal securities laws. Clean Energy cautions you
that any statements contained in this press release that are not
strictly historical statements constitute forward-looking
statements. Such forward-looking statements include, but are not
limited to, those related to: statements regarding the offering and
the use of the net proceeds from the offering. These
forward-looking statements are neither promises nor guarantees and
involve risks and uncertainties that could cause actual results to
differ materially from such forward-looking statements. Factors
that could cause actual events to differ materially from those
predicted in such forward-looking statements include market
conditions and customary closing conditions. Additional factors
that could cause actual events to differ from those predicted in
such forward-looking statements are identified in the prospectus
supplement and Clean Energy�s other filings with the SEC that are
incorporated by reference into the prospectus supplement, including
its Annual Report on Form 10-K for the fiscal year ended December
31, 2008 and its Quarterly Report on Form 10-Q for the fiscal
quarter ended March 31, 2009, each of which is filed with the SEC
(copies of which may be obtained at the SEC�s website at:
http://www.sec.gov). Readers should not place undue reliance on any
such forward-looking statements, which speak only as of the date
they are made. Clean Energy disclaims any obligation to publicly
update or revise any such statements to reflect any change in its
expectations, or in events, conditions or circumstances on which
any such statements may be based, or that may affect the likelihood
that actual results will differ from those set forth in the
forward-looking statements, except as required by law.
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