23 June 2014asset acquisition disposition● NeutralMajor
Foresight Energy LP closed its IPO, selling 17,500,000 common units to the public at $20.00 each (underwriters had a 30-day option for up to 2,625,000 more). The filing says about $210.0 million goes to repay debt of the operating company, about $4.0 million to offering expenses, and a cash distribution to Foresight Reserves and Michael Beyer; Reserves and Beyer keep all other interests apart from public units and employee incentive units. A 7,000,000-unit incentive plan and a new partnership agreement were also adopted.