CVR Energy Prices $490 Million Common Stock Offering to Fund Refinery Acquisition
CVR Energy (CVI) has priced an underwritten public offering of 10.5 million newly issued common shares at $47.55 per share. The offering is expected to raise approximately $490 million in gross proceeds. The capital raised from this stock sale is earmarked to fund the company's planned acquisition of two refineries and an associated marketing business from Marathon Petroleum (MPC). This strategic move aims to expand CVR Energy's refining capacity and market footprint.
Topics: Acquisition Public Offering Refinery Acquisition
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Part of the story CVR Energy Announces $750 Million Common Stock Offering for Refinery Acquisition (2 articles)