Rentech Nitrogen Partners LP said Jan. 26 that a wholly-owned subsidiary of Rentech Nitrogen has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (SEC) relating to the proposed spin-out of its Pasadena, Texas facility.
It is a condition to the completion of the pending merger of Rentech Nitrogen with CVR Partners LP that Rentech Nitrogen sell or spin-out its Pasadena facility pursuant to the terms of the merger agreement. Rentech Nitrogen filed the registration statement to prepare for a potential spin-out of the Pasadena facility in the event it is unable to close on a sale of the facility on acceptable terms in a timely manner.