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CVR Partners Offering 70 million Shares?



August 31, 2012 – Comments (4) | RELATED TICKERS: UAN , CVI , RNF.DL

Does anyone know why CVR Partners (NYSE: UAN) is selling 70 million shares? That's nearly the entire float (73 million shares outstanding) and represents $1.32 billion. It can't be CVR Energy's stake in the company, because that would make their stake 96% - which isn't even close. 

I have a small position with a great entry point, but I am still concerned (its a huge offering) and can't seem to find any news about the offering.  


4 Comments – Post Your Own

#1) On August 31, 2012 at 10:22 PM, rd80 (94.59) wrote:

See "Use of Proceeds" and "Selling Unitholder" sections on pp. 5 and 6 of the SEC filing.

Coffeyville Resources, another subsidiary of CVR Energy, is selling most of its stake in UAN.

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#2) On September 01, 2012 at 12:12 AM, TMFBlacknGold (90.49) wrote:

Man, I have to learn to rely on actual SEC filings and not just crappy two-sentence "news articles". 

Where's the best place to find these as they are posted? The SEC website?

Thanks for the learning experience. I put it in my growing bag of tricks. =) 

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#3) On September 01, 2012 at 11:09 AM, rd80 (94.59) wrote:

It's generally easiest to find the SEC filings either on the company's investor relations page or the SEC website. 

Navigating through the SEC site isn't always the easiest chore, but here's a link to its company search page.  Search by ticker usually works best.

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#4) On September 01, 2012 at 9:07 PM, TMFBlacknGold (90.49) wrote:

Alright thanks. The filing wansn't listed on CVR Partners' website. 


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