ACI announced that it has successfully priced its public offering of common stock. The offering was made pursuant to an automatically effective shelf registration statement on Form S-3 and prospectus previously filed with the Securities and Exchange Commission
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The company announced that it has agreed to sell 17,000,000 shares of its common stock at a public offering price of $17.50 per share. The company has also granted the underwriters a 30-day option to purchase up to an additional 2,550,000 shares of its common stock on the same terms and conditions, solely to cover over-allotments, if any. The closing of the offering is subject to customary closing conditions, and the shares are expected to be delivered on July 31, 2009.
The company plans to use the net proceeds of the offering to finance a portion of the $761.0 million purchase price for the previously announced acquisition of the Jacobs Ranch mining complex in Wyoming. The acquisition is expected to close in the third quarter of 2009.
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