Cloud Peak Energy Inc. Announces Full Exercise of Over-Allotment Option by Underwriters in Secondary Offering of Common Stock on Behalf of Selling Shareholders
Cloud Peak Energy Inc. (NYSE:CLD) announced today that the underwriters
for the recently announced secondary offering of Cloud Peak Energy Inc.
common stock on behalf of selling shareholders Rio Tinto Energy America
Inc. and its affiliate have exercised their over-allotment option to
purchase an additional 3,800,000 shares of Cloud Peak Energy Inc.′s
common stock in full. The 29,400,000 shares of Cloud Peak Energy Inc.,
including the 3,800,000 shares subject to the over-allotment option,
were sold at a price to the public of $19.50 per share by the selling
shareholders.
The secondary offering, which closed on December 21, 2010, and the
exercise of the over-allotment option, which also closed on December 21,
2010, resulted in the divestment of 100 percent of Rio Tinto′s holdings
in Cloud Peak Energy. As a result of these transactions, Cloud Peak
Energy Resources LLC is now a wholly owned subsidiary of Cloud Peak
Energy Inc.
Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. Incorporated,
RBC Capital Markets, LLC and J.P. Morgan Securities LLC acted as joint
book-running managers for the offering.
A shelf registration statement relating to the offering of the common
shares has previously been filed with the U.S. Securities and Exchange
Commission and has become effective. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy, nor
shall 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.
About Cloud Peak Energy?
Cloud Peak Energy Inc. (NYSE:CLD) is headquartered in Wyoming and
is the third largest U.S. coal producer and the only pure-play Powder
River Basin (PRB) coal company. As one of the safest coal producers in
the nation, Cloud Peak Energy specializes in the production of low
sulfur, subbituminous coal. 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 near Decker, Montana.
Cautionary Note Regarding Forward-Looking Statements
This press release contains 'forward-looking statements? within the
meaning of the safe harbor provisions of Section 27A of the Securities
Act and Section 21E of the Securities Exchange Act of 1934, as amended
(the 'Exchange Act?). 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 or beliefs, as well as assumptions and estimates regarding
our company, industry, economic conditions, government regulations and
other factors. These statements are subject to significant risks,
uncertainties and assumptions that are difficult to predict and could
cause actual results to differ materially from those expressed or
implied in the forward-looking statements. 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 press
release, whether as a result of new information, future events or
otherwise, except as required by law.
Cloud Peak Energy Inc.
Karla Kimrey, 720-566-2932
Vice
President, Investor Relations