Coal Producer Alpha Natural Resources Announces Pricing of Initial Public Offering of Common Stock
Abingdon, VA, February 14, 2005 — Alpha Natural Resources, Inc. announced today that it has priced its initial public offering of 29,500,000 shares of common stock at $19.00 per share. The common stock will begin trading tomorrow, February 15, on the New York Stock Exchange under the symbol “ANR”. The company will use all of the approximately $519 million in net proceeds from the offering to repay indebtedness to certain of its existing stockholders. The company has also granted the underwriters an over-allotment option to purchase up to an additional 4,425,000 shares, the proceeds of which, if the option is exercised, will be distributed as a dividend to its existing stockholders.
Morgan Stanley & Co. Incorporated and Citigroup Global Markets Inc. are serving as joint book-running managers for the offering, with UBS Investment Bank acting as joint-lead manager and Bear, Stearns & Co. Inc.; Lehman Brothers; ABN AMRO Rothschild LLC and Natexis Bleichroeder Inc. acting as co-managers.
A copy of the prospectus relating to these securities may be obtained from Morgan Stanley & Co. Incorporated , Prospectus Department, 1585 Broadway, New York, NY 10036 (tel: 1-800-364-5990) or Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220 (tel: 718-765-6732).
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Based in Abingdon, Va., Alpha Natural Resources is a leading Central Appalachian coal producer. The company produces, processes and sells steam and metallurgical coal from operations located throughout Virginia, West Virginia, Kentucky, Pennsylvania and Colorado.
Cubitt Jacobs & Prosek for First Reserve Corp.
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