Patriot Coal (PCX) To Offer 12M Shares
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.
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