Westmoreland announces pricing of common stock offering

11 Jul 2014

Westmoreland Coal Company announced that it has commenced an underwritten public offering of USD 52 million of shares of its common stock. The Company also intends to grant the underwriters a 30-day option to purchase up to USD 7.8 million of additional shares of common stock.

The Company intends to use the net proceeds of this offering, including the net proceeds from any exercise of the underwriters’ option to purchase additional shares, to increase its overall financial flexibility, pursue organic and acquisition growth strategies and for general corporate purposes.

BMO Capital Markets and Deutsche Bank Securities will act as joint book-running managers and Brean Capital and Imperial Capital will act as co-managers for the offering.

Source: Dion Global Type: IPO Related

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