LEXINGTON, Ky., Sept. 10, 2013 /PRNewswire/ -- Rhino Resource Partners LP (NYSE: RNO) ("Rhino") announced today that it has priced its previously announced public offering of 1,100,000 common units representing limited partner interests in Rhino at a price to the public of $12.30 per common unit. Rhino expects the offering to close on September 13, 2013, subject to customary closing conditions. Rhino expects to receive net proceeds of approximately $12.6 million, after deducting the underwriting discount and estimated offering expenses, and the general partner's proportionate capital contribution of approximately $0.3 million. Rhino has granted the underwriter a 30-day option to purchase up to 165,000 additional common units.
Rhino intends to use the net proceeds from this offering, and the related capital contribution by its general partner, to repay borrowings outstanding under its revolving credit facility. If the underwriter exercises its option to purchase additional common units, Rhino intends to use the additional net proceeds and related capital contribution by its general partner to repay borrowings outstanding under its revolving credit facility.
The common units will be offered and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. The offering may be made only by means of a prospectus supplement, filed with the Securities and Exchange Commission, and the related base prospectus. Raymond James & Associates, Inc. is the sole underwriter for the offering. A copy of the prospectus supplement and base prospectus, when available, may be obtained from:
Raymond James & Associates, Inc. 880 Carillon Parkway St. Petersburg, Florida 33716 1-800-248-8863 firstname.lastname@example.orgThis press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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