Patriot Coal (PCX) To Offer 12M Shares
Down)
Patriot Coal Corporation (NYSE: PCX) plans to offer approximately 12.0 million shares of its common stock in a registered public offering. The Company also expects to grant the managing underwriters a 30-day option to purchase up to an additional 1.8 million shares to cover any over-allotments.
The Company intends to use the net proceeds from this offering to repay the outstanding balance on its revolving credit facility and for general corporate purposes.
The Company intends to use the net proceeds from this offering to repay the outstanding balance on its revolving credit facility and for general corporate purposes.
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