A 12.3 million-share secondary offering of
Alpha Natural Resources
priced at $21.03 a share, the company said.
The offering, in which Alpha receives no proceeds, is expected to close on Jan. 24, 2006.
The shares are being sold by First Reserve Fund IX, ANR Fund IX Holdings, and Madison Capital Funding.
The underwriters have an option to purchase up to an additional 1.8 million shares from certain of the selling stockholders to cover any over-allotments. After underwriting discounts and before expenses, the selling stockholders will receive aggregate proceeds of $247.9 million, assuming no exercise of the underwriters' over-allotment option.
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