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CVR Energy, Inc. Message Board

  • barebuttbob2014 barebuttbob2014 Jun 25, 2014 1:46 AM Flag

    Read the new release about 6M more shares

    read the release; affects CVI, but not CVRR

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    • Not sure what you mean by "more shares". CVRR sold 6.5 MM units and used the proceeds to redeem an equivalent number of units currently held by CVI. Apparently the offering was upsized because the first release talked about 6 MM units being sold. Throw in the overallotment and maybe you're up to 7.5 MM units, although there's no guarantee the CVRR price will recover enough to trigger the overallotment being exercised.

      So no effect on CVRR, you're right. And CVI gets somewhere around $ 170 MM in cash, net of some tax liability.

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