Clean Energy Fuels Announces Follow-On Public Offering of Three Million Shares of Common Stock
November 10 2010 - 4:23PM
Business Wire
Clean Energy (Nasdaq: CLNE) today announced that it intends to
offer, subject to market and other conditions, three million shares
of its common stock for sale to the public. Clean Energy expects to
grant the underwriters a 30-day option from the date of the final
prospectus supplement to purchase up to an additional 450,000
shares of its common stock. The public offering price has not yet
been determined.
Clean Energy intends to use the net proceeds from the offering,
after deducting underwriting discounts and Clean Energy’s estimated
expenses related to the offering, for working capital and other
general corporate purposes, which may include capital expenditures
related to station construction activities, its LNG plants and its
biomethane production plant, future payments in connection with its
purchase of the business of I.M.W. Industries Ltd. or future
acquisitions of natural gas fueling infrastructure, vehicle or
services businesses and biomethane production assets, including the
potential acquisition of Wyoming Northstar Incorporated.
BofA Merrill Lynch is acting as sole book-running manager for
the offering. Craig-Hallum Capital Group is acting as co-manager of
the offering.
The offering will be made under Clean Energy’s effective shelf
registration statement filed with the Securities and Exchange
Commission (SEC). Clean Energy intends to file with the SEC a
preliminary prospectus supplement for the offering to which this
communication relates. Prospective investors should read the
preliminary prospectus supplement and the shelf registration
statement for more complete information about Clean Energy and the
offering. Copies of the preliminary prospectus supplement and the
accompanying prospectus and, when available, copies of the final
prospectus supplement may be obtained by visiting EDGAR on the
SEC’s Web site at http://www.sec.gov and from BofA Merrill Lynch, 4
World Financial Center, New York, NY 10080, Attn: Prospectus
Department or e-mail dg.prospectus_requests@baml.com.
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 largest provider of natural gas fuel for
transportation in North America and a global leader in the
expanding natural gas vehicle market. It has operations in CNG and
LNG vehicle fueling, construction and operation of CNG and LNG
fueling stations, biomethane production, vehicle conversion and
compressor technology.
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 potential fluctuations in the price of Clean
Energy’s common stock. Additional factors that could cause actual
events to differ from those predicted in such forward-looking
statements are identified in the preliminary prospectus supplement
and Clean Energy’s other filings with the SEC that are incorporated
by reference into the preliminary prospectus supplement, including
its Annual Report on Form 10-K for the fiscal year ended December
31, 2009 and its Quarterly Report on Form 10-Q for the fiscal
quarter ended September 30, 2010, 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.
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