Cloud Peak Energy Inc. Announces Termination of Public Offering of Mandatory Convertible Preferred Stock
Cloud Peak Energy Inc. (NYSE:CLD) (“CPE Inc.”) announced that it has terminated the public offering of shares of its mandatory convertible preferred stock previously announced on November 18, 2014. The termination results from an assessment by CPE Inc.’s management that current market conditions are not conducive for an offering on terms that would be in the best interests of CPE Inc.’s stockholders. As a result of this termination, no shares will be sold pursuant to the offering.
About Cloud Peak Energy®
Cloud Peak Energy Inc. (NYSE:CLD) is headquartered in Wyoming and is one of the largest U.S. coal producers and the only pure-play Powder River Basin (PRB) coal company. As one of the safest coal producers in the nation, Cloud Peak Energy mines low sulfur, subbituminous coal and provides logistics supply services. The Company owns and operates three surface coal mines in the PRB, the lowest cost major coal producing region in the nation. The Antelope and Cordero Rojo mines are located in Wyoming and the Spring Creek mine is located in Montana. In 2013, Cloud Peak Energy shipped 86.0 million tons from its three mines to customers located throughout the U.S. and around the world. Cloud Peak Energy also owns rights to substantial undeveloped coal and complimentary surface assets in the Northern PRB, further building the Company’s long-term position to serve Asian export and domestic customers. With approximately 1,700 total employees, the Company is widely recognized for its exemplary performance in its safety and environmental programs. Cloud Peak Energy is a sustainable fuel supplier for approximately four percent of the nation’s electricity.
Contact
Cloud Peak Energy Inc.
Karla Kimrey, 720-566-2932
Vice President, Investor Relations