International Coal Group Closes Public Offering
Posted on: Monday, 12 December 2005, 18:00 CST
ASHLAND, Ky., Dec. 12 /PRNewswire-FirstCall/ -- International Coal Group, Inc. announced today that it successfully closed its public offering of 21,000,000 million common shares at a price of $11.00 per share. The underwriters have until January 5, 2006 to purchase up to an additional 3,150,000 shares from the Company. The Company received approximately $209.9 million, net of expenses today, which will be used to retire long-term debt.
The joint book-running managers are UBS Investment Bank and Lehman Brothers. Bear, Stearns & Co. Inc., Goldman, Sachs & Co., JP Morgan and Morgan Stanley are also underwriters.
The offering of these securities may be made only by means of the prospectus relating to the offering. Copies of the prospectus may be obtained by contacting UBS Investment Bank, Prospectus Department, 299 Park Avenue, New York, NY 10171, 212-821-3000, or Lehman Brothers, c/o ADP Financial Services, Integrated Prospectus Fulfillment, 1155 Long Island Avenue, Edgewood, NY 11717.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
General Information
ICG is a leading producer of coal in Northern and Central Appalachia and the Illinois Basin. The company has eleven active mining complexes, of which ten are located in Northern and Central Appalachia and one in Central Illinois. ICG's mining operations and reserves are strategically located to serve utility, metallurgical and industrial customers throughout the Eastern United States.
The foregoing statements in this document which are not statements of historical fact are forward-looking statements within the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. Because these forward-looking statements are subject to various risks and uncertainties, actual results may differ materially from those implied in the forward-looking statements. The following factors are among those that may cause actual results to differ materially from the forward-looking statements: market conditions for coal, electricity and steel; changes in legislation, regulations and government policies affecting the coal industry and affecting coal usage and changes in relationships with customers, transportation, a variety of other operational, geologic, environmental, permitting, labor, transportation, weather and market related factors. International Coal does not intend to update or revise the forward-looking statements in this document.
International Coal Group
CONTACT: Wilbur L. Ross, Jr., Chairman International Coal Group,+1-212-826-2111
Source: PRNewswire-FirstCall
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