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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Monday, November 24, 9:41 AM

Slide #3. Cloud Peak Energy Inc. Preferred Stock Offering

Company: Cloud Peak Energy Inc. (NYSE:CLD)
Date announced: 11/18/2014
Shares Offered: 100,000
Preferred Stock Offering Details: Cloud Peak Energy Inc. (NYSE:CLD) ("CPE Inc.") announced that it has commenced a registered underwritten public offering of its Series A mandatory convertible preferred stock consisting of 100,000 shares with a liquidation preference of $1,000 per share. CPE Inc. intends to grant the underwriters a 30-day option to purchase up to 15,000 additional shares of mandatory convertible preferred stock to cover over-allotments, if any. CPE Inc. intends to use the net proceeds from the offering to fund a partial redemption of the outstanding 8.50% senior notes due 2019 issued in 2009 by Cloud Peak Energy Resources LLC and Cloud Peak Energy Finance Corp. If the underwriters exercise their option to purchase additional shares of mandatory convertible preferred stock to cover over-allotments, CPE Inc. intends to use any net proceeds remaining after funding the proposed redemption for general corporate purposes.

Cloud Peak Energy is a holding company. Through its subsidiary, Cloud Peak Energy Resources LLC, Co. produces coal in the Powder River Basin in northeastern Wyoming and southeastern Montana. Co.'s operations include three wholly-owned surface coal mines, two of which, the Antelope mine and the Cordero Rojo mine, are in Wyoming and one of which, the Spring Creek mine, is in Montana. Co. also owns a 50.0% non-operating interest in the Decker mine in Montana. Co.'s mines produce subbituminous thermal coal with low sulfur content, and sells its coal primarily to domestic and foreign electric utilities. At Dec 31 2013, Co. controlled about 1.2 billion tons of proven and probable reserves.
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Name:  Cloud Peak Energy Inc
Website:  www.cloudpeakenergy.com
Sector:  Metals & Mining
Number of ETFs Holding CLD:  38 (see which ones)
Total Market Value Held by ETFs:  $63,411,900
Total Market Capitalization:  $697,000,000
% of Market Cap. Held by ETFs:  9.10%
 

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