CVR Partners Offering 70 million Shares?
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.