SUGAR LAND, Texas, Feb. 2, 2011 /PRNewswire/ -- CVR Energy, Inc.
(NYSE: CVI) today announced the pricing of a registered
underwritten secondary public offering of 23,610,218 shares of CVR
Energy's common stock by certain of its stockholders at a public
offering price of $16.75 per share.
No shares were sold by the Company and it will not receive any
proceeds from the offering.
(Logo:
http://photos.prnewswire.com/prnh/20071203/CVRLOGO)
The selling stockholders included affiliates of Goldman, Sachs
& Co., or the Goldman Sachs Funds, and Kelso & Company,
L.P., or the Kelso Funds. The size of the offering was
increased from the previously announced 15,000,000 shares, with all
of the additional shares being sold by the Goldman Sachs Funds.
The Kelso Funds have granted the underwriters a 30-day option
to purchase up to an aggregate of 3,541,532 additional shares.
Following the offering, the Kelso Funds will own approximately 12.8
percent of CVR Energy's common stock (8.8 percent if the
underwriters' option is exercised in full), and the Goldman Sachs
Funds will no longer be stockholders of the Company. The
offering is expected to close on February 8,
2011, subject to customary closing conditions.
Goldman, Sachs & Co., Deutsche Bank Securities and Credit
Suisse are acting as the joint book-running managers for the
offering. The offering is being made only by means of a prospectus
and related prospectus supplement, copies of which may be obtained
when available from: Goldman, Sachs & Co., Attention:
Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526,
facsimile: (212) 902-9316, or email at
prospectus-ny@ny.email.gs.com, Deutsche Bank Securities, Attention:
Prospectus Department, Harborside Financial Center, 100 Plaza One,
Jersey City, NJ 07311-3988,
telephone: (800) 503-4611 or e-mail at prospectus.cpdg@db.com; and
Credit Suisse Securities (USA)
LLC, Attention: Prospectus Department, One Madison Avenue,
New York, NY 10010, telephone:
(800) 221-1037. You may also get these documents for free by
visiting the Securities and Exchange Commission's website at
www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy the shares of common stock or any
other securities, nor shall there be any sale of the 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. The common stock is being offered
pursuant to an effective registration statement filed with the
Securities and Exchange Commission.
About CVR Energy, Inc.
Headquartered in Sugar Land,
Texas, CVR Energy, Inc.'s subsidiary and affiliated
businesses include an independent refiner that operates a 115,000
barrel per day refinery in Coffeyville,
Kan., and markets high value transportation fuels supplied
to customers through tanker trucks and pipeline terminals; a crude
oil gathering system serving Kansas, northern Oklahoma, western Missouri and southwestern Nebraska; an asphalt and refined fuels storage
and terminal business in Phillipsburg,
Kan.; and through a limited partnership, an ammonia and urea
ammonium nitrate fertilizer business located in Coffeyville, Kan.
For further information, please
contact:
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Investor
Relations:
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Media Relations:
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Stirling Pack, Jr.
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Steve Eames
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CVR Energy, Inc.
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CVR Energy, Inc.
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281-207-3464
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281-207-3550
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InvestorRelations@CVREnergy.com
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MediaRelations@CVREnergy.com
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SOURCE CVR Energy, Inc.