Clean Energy Announces Proposed Private Placement of Convertible Senior Notes
NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- Clean Energy Fuels Corp. (NASDAQ: CLNE) ("Clean Energy" or the "Company") today announced that it intends to offer, subject to market conditions and other factors, $200 million aggregate principal amount of convertible senior notes due 2018 (the "notes") in a private placement. Clean Energy also intends to grant the initial purchasers of the notes a 30-day option to purchase up to $30 million aggregate principal amount of additional notes. The Company expects to use the net proceeds of the offering to fund capital expenditures and for general corporate purposes.
The notes will be senior unsecured obligations of the Company, and interest on the notes will be payable semi-annually. The notes will be convertible at any time at the option of the noteholders into shares of the Company's common stock at the then-applicable conversion rate. The interest rate, initial conversion rate and other terms of the notes will be determined by negotiations between the Company and the initial purchasers of the notes.
The notes will be offered to qualified institutional buyers in compliance with Rule 144A under the Securities Act of 1933 (the "Securities Act"). Neither the notes nor the shares of the Company's common stock issuable upon conversion of the notes have been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of the securities described, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Secur
This was the news the stock plummeted on? Am I missing something? My guess is that they need to expand their sales in China because of surging demand. Why don't you all talk about China? It seems the natgas trend their is booming, and CLNE will make much money there.
By all indication THIS NEWS turned out to be the most disastrous news a company can put out when the share price is still languishing at the bottom of year lows and with a booming market. FOOLED AGAIN REAL SHAREWHOLDERS Embarrassing performance and lock of judgment for shareholders' interest. trading @12.47 . Who is benefitting?????????????????????????? Boo scam?
teach you are a moron
firstl of all the stock is roughly half way between the 52 week high and low
secondly boon is the largest shareholder.....low share price isnt exactly good for him either
thirdly teach...you are a moron