By Devika Patel
Knoxville, Tenn., July 10 - Alon Refining Louisiana, Inc. raised $80 million in a private placement of series A preferred shares on July 3, according to an 8-K filed Thursday by parent company Alon USA Energy, Inc. with the Securities and Exchange Commission.
The company sold 80,000 preferreds at $1,000.00 apiece. They pay 10.75% dividends quarterly.
They are convertible into common shares at $14.39 per share.
Alon Refining Louisiana is a private subsidiary of parent Alon USA Energy, a Dallas-based refiner and marketer of petroleum products.
| Issuer: | Alon Refining Louisiana, Inc.
|
| Issue: | Series A preferred stock
|
| Amount: | $80 million
|
| Shares: | 80,000
|
| Price: | $1,000
|
| Dividends: | 10.75%
|
| Conversion price: | $14.39
|
| Warrants: | No
|
| Settlement date: | July 3
|
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