Sugar Land, Texas-CVR Energy Inc. on Feb. 2 announced the pricing of a registered underwritten secondary public offering of 23,610,218 shares of the company’s common stock by certain of its stockholders at a public offering price of $16.75 per share. No shares were sold by the company, and it will not receive any proceeds from the offering. The selling stockholders included affiliates of Goldman, Sachs & Co., or the Goldman Sachs Funds, and Kelso & Company, L.P., or the Kelso Funds. The size of the offering was increased from the previously announced 15,000,000 shares, with all of the additional shares being sold by the Goldman Sachs Funds. The Kelso Funds have granted the underwriters a 30-day option to purchase up to an aggregate of 3,541,532 additional shares. Following the offering, the Kelso Funds will own approximately 12.8 percent of CVR Energy’s common stock (8.8 percent if the underwriters’ option is exercised in full), and the Goldman Sachs Funds will no longer be stockholders of the company. The offering is expected to close on Feb. 8, 2011, subject to customary closing conditions.
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