I'm sure the new buyers won't get a better deal than the existing note holders, that being 7.5% interest with conversion at $ 15.80. No dilution till then, unless it's below $15.80 in 2018, which I seriously doubt.
I'll take the $3 rise before dilution hits.
Besides, CLNE could have never done an equity raise without really cratering the stock.
Clne will have over 700 locations by 2015, dwarfing them all; Trillium, Shell/TA, Blu.
Remember, 28 Billion gallons of diesel sold annually just to OTR trucks. We sold what 1% of the total in nat gas. LOTS of room for growth................
something must be brewing as they said they didn't need capital this yr for their capex.
cold hands bailed today......imo
"The sale of the notes is expected to close on September 16, 2013, subject to customary closing conditions."
Raising the note offering from $200 to $220 in just a day, with the possibility of another $30 mil, this tells me two things:
1. Institutions are buying notes. They've been told why the need for the capital.
2. Why now, when they have said in the past they don't need additional capital till 2014?? Another China contract to be announced? A huge customer announcement about station build outs? (Remember at the last earning report cc, they said they had over 50+ deals on the table.)
I think we know more next week after the closing of the offering on MONDAY.......
option expiration is the 21st. Bought some 11's
Weak hands selling. Why would the "smart" money buy the $220 mil unless as you say, "it's rigged".
If it's rigged, what's the end result game for them?
Oh by the way, got back on the elevator today...
"We are in a very nice position to be able to fund our remaining CapEx requirement for this year and, frankly, well into next year."
What's changed that they need new capex funds?
Why the new offering????
Where will the funds be used:
1. We’ve learned a lot and the beauty of the biomethane business is you have a really phenomenal product and you’re rewarded for it because of its clean nature, 90% cleaner. And of course as you know, getting into transportation it brings with it some substantial margin enhancements. These are anywhere between $25 million and $40 million cleanup facilities with very large, big time compression. And we have though, probably three more like this one that I just mentioned, in the pipeline. So you will see more of these.
2. Could you give us a sense of the 54 projects in queue? Could you give us a sense of what pockets those projects are for? And is trucking going to be part of those or is that – that’s still waiting for the 12 wheeler?
It’s funny. It’s a good question because we can slice and dice the stuff differently. Really a preponderance of those 53 or 54 stations in the construction queue, a bit majority of that is refuse. Now, we have another 30 or probably 70 stations that I don’t have in that queue that really need to be – that are in a separate bucket that we know will be in the queue for the heavy duty trucking for the latter part of this year and early next year. So I think right now 47 or 43 of that 53 are in refuse in that one group. But there’s a whole another group that I don’t count as -- because somebody hasn’t necessarily given us money to do it and maybe there are stations. So we know of 125 to 140 stations that are in the planning process to be built.
I'd put my money on a big project to be announced, and of course the debt is bought.
Reread the conference call from August. A lot now makes sense.
paid in stock options doesn't delete the cash position.
If there were concerns about mgt selling their options which yes dilutes the stock, don't you think that whoever is buying the convertible stock would voice their concerns??
Now that they have a "fresh" $213mil in the bank, when will they announce what they intend to do with this cash, as they had said in the earnings call they had their capex covered till 2014 before this offering.
Any one find it interesting that they are building a methane renewable plant in Memphis? Why Memphis????
Oh yea, isn't FedEX headquarters in Memphis.......hmmmmmm
Watch for the 13G filing on the recent debt offering. We could a real gusher if it's filed by a big oil company looking to preserve their market share on the switch from diesel to nat gas.....imo
welcome to the big league boys and girls.......could this news set off massive short squeeze we all have been waiting to happen. After hours trade hit $ 13.28.....................
the Nov 13 release was for CLNE sole benefit nat gas stations
This new release is a new business partnership to deliver LNG to marine, rail, mining & transport.
I like the new opportunities and JV partners. GE doesn't get into businesses that aren't going to make money.
With the retrofit GE is doing on existing locomotives, the mobile LNG plan will walk us into some large opportunities.
2014 order was based on success with CNG trucks since 2012.
U.S. transportation company Central Freight Lines, Inc. has added 100 2014 Freightliner M2 112 compressed natural gas (CNG) tractors equipped with Cummins Westport ISL G natural gas engines to its fleet of more than 1,600 trucks. Headquartered in Waco, Texas, Central Freight Lines is a less-than-truckload (LTL) general commodities carrier nationally recognized as one of the safest carriers on the road today.
According to Don Orr, president and CEO, Central Freight Lines is partnering to build new CNG stations in Fort Worth, Houston and San Antonio as a result of the decision to convert the fleet to CNG technology. Central Freight Lines also considered the opportunity to reduce dependency on foreign fuels and support a clean-air policy as it supplemented its current fleet with CNG.
Additionally, Central Freight Lines was able to take advantage of a Texas Emissions Reduction Plan (TERP) program that gives participants the opportunity to trade a less-efficient truck towards a cost reduction on each new CNG-fueled truck purchased.
“We are committed to energy conservation and a cleaner environment,” said Orr. “In 2012, we purchased CNG tractors that have been servicing the Houston area with proven efficiencies. As a result, we decided to continue investing in CNG tractors, specifically Freightliner trucks because of their reliability and the company’s customer support.”
“Central Freight Lines wanted to lower its operating costs, while staying in line with its commitment to energy conservation and a cleaner environment,” said Robert Carrick, natural gas sales manager, Freightliner Trucks. “Freightliner Trucks leads the industry in developing alternative technologies to meet the demand for environmentally-friendly trucks that get the job done.”
1600 units to be replaced............cha-ching......