Clean Energy Fuels (CLNE) Prices Follow-On Offering of 8.2M Shares At $8.30 A Share

June 26, 2009 8:17 AM EDT

Clean Energy Fuels Corp. (Nasdaq: CLNE) announced the pricing of its follow-on public offering of 8,200,000 shares of common stock, at a public offering price of $8.30 per share. The Company has granted the underwriters a 30-day option from the date of the final prospectus supplement to purchase up to 1,230,000 additional shares of its common stock to cover overallotments, if any. The offering is expected to close on July 1, 2009, subject to customary closing conditions.

Clean Energy intends to use the net proceeds from the offering, after deducting underwriting discounts and Clean Energy's expenses related to the offering, for working capital and other general corporate purposes, which may include capital expenditures related to station construction activities, investment in its LNG plants and biomethane production plant or future acquisitions of natural gas fueling infrastructure, vehicle or services businesses and biomethane production assets.

Merrill Lynch & Co. is acting as sole book-running manager for the offering. Lazard Capital Markets, Janney Montgomery Scott and Craig-Hallum Capital Group are acting as co-managers.
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