EX-99.1
6
a10-19067_1ex99d1.htm
EX-99.1
Exhibit 99.1
News Release
Investor Contacts:
KCSA Strategic Communications
Jeffrey Goldberger / Philip Carlson
+1 212.896.1249 / +1 212.896.1233
jgoldberger@kcsa.com /
pcarlson@kcsa.com
RHINO RESOURCE PARTNERS LP
COMPLETES
INITIAL PUBLIC OFFERING
LEXINGTON,
KY (October 5, 2010)
- Rhino Resource Partners LP (NYSE: RNO)
today announced the completion of its initial public offering of 3,730,600
common units at $20.50 per unit. The number of common units issued at closing
included 486,600 additional common units issued pursuant to the full exercise
of the underwriters' over-allotment option.
Net
proceeds from the offering were approximately $68.3 million, after deducting
underwriting discounts and estimated offering expenses. Rhino intends to use the net proceeds from
this offering, and a related capital contribution by its general partner of
approximately $10.4 million, to repay approximately $69.4 million of
outstanding indebtedness under its credit facility and to reimburse affiliates
of Wexford Capital LP for capital expenditures incurred with respect to the
assets contributed to Rhino in connection with this offering.
As
a result of the closing of this offering, the public owns 3,730,600 common
units. Rhino's general partner and an affiliate of Wexford Capital LP own the
remaining equity interests in Rhino.
Raymond
James & Associates, Inc. acted as the book-running manager for
the offering. RBC Capital Markets Corporation and Stifel, Nicolaus &
Company, Incorporated acted as co-managers for the offering.
The
offering of these securities is being made only by means of a prospectus
meeting the requirements of Section 10 of the Securities Act of 1933. A
copy of the final prospectus may be obtained from the offices of:
Raymond
James & Associates, Inc.
880
Carillon Parkway
St.
Petersburg, Florida 33716
1-800-248-8863
A
registration statement relating to these securities has been filed with, and
declared effective by, the U.S. Securities and Exchange Commission. 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 other
jurisdiction in which such offer, solicitation, or sale would be unlawful prior
to registration or qualification under the securities laws of any such state or
other jurisdiction.
About
Rhino Resource Partners LP
Rhino
is a growth-oriented limited partnership formed to control and operate steam
and metallurgical coal properties and related assets in Central Appalachia,
Northern Appalachia, the Illinois Basin and the Western Bituminous region.
Forward
Looking Statements
This
press release may include forward-looking statements. These statements can be identified by the use
of forward-looking terminology including "will", "may", "believe", "anticipate,"
"estimate", "continue", or other similar words.
These statements discuss future expectations, contain projections of
results of operations or of financial condition, or state other "forward-looking"
information. These forward-looking
statements involve risks and uncertainties.
When considering these forward-looking statements, you should
keep
in mind the risk factors and other cautionary statements in Rhino's prospectus
and SEC filings. Rhino undertakes no
obligation and does not intend to update these forward-looking statements to
reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the date of this
press release.
XX
# # #

EX - 99 . 1 6 a10 - 19067 _ 1ex99d1 . htm EX - 99 . 1 Exhibit 99 . 1 News Release Investor Contacts : KCSA Strategic Communications Jeffrey Goldberger / Philip Carlson + 1 212 . 896 . 1249 / + 1 212 . 896 . 1233 jgoldberger@kcsa.com / pcarlson@kcsa.com RHINO RESOURCE PARTNERS LP COMPLETES INITIAL PUBLIC OFFERING LEXINGTON , KY ( October 5 , 2010 ) - Rhino Resource Partners LP ( NYSE : RNO ) today announced the completion of its initial public offering of 3,730,600 common units at $ 20.50 per unit . The number of common units issued at closing included 486,600 additional common units issued pursuant to the full exercise of the underwriters ' over - allotment option . Net proceeds from the offering were approximately $ 68.3 million , after deducting underwriting discounts and estimated offering expenses . Rhino intends to use the net proceeds from this offering , and a related capital contribution by its general partner of approximately $ 10.4 million , to repay approximately $ 69.4 million of outstanding indebtedness under its credit facility and to reimburse affiliates of Wexford Capital LP for capital expenditures incurred with respect to the assets contributed to Rhino in connection with this offering . As a result of the closing of this offering , the public owns 3,730,600 common units . Rhino 's general partner and an affiliate of Wexford Capital LP own the remaining equity interests in Rhino . Raymond James & Associates , Inc . acted as the book - running manager for the offering . RBC Capital Markets Corporation and Stifel , Nicolaus & Company , Incorporated acted as co - managers for the offering . The offering of these securities is being made only by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933 . A copy of the final prospectus may be obtained from the offices of : Raymond James & Associates , Inc . 880 Carillon Parkway St . Petersburg , Florida 33716 1 - 800 - 248 - 8863 A registration statement relating to these securities has been filed with , and declared effective by , the U . S . Securities and Exchange Commission . 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 other jurisdiction in which such offer , solicitation , or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction . About Rhino Resource Partners LP Rhino is a growth - oriented limited partnership formed to control and operate steam and metallurgical coal properties and related assets in Central Appalachia , Northern Appalachia , the Illinois Basin and the Western Bituminous region . Forward Looking Statements This press release may include forward - looking statements . These statements can be identified by the use of forward - looking terminology including " will " , " may " , " believe " , " anticipate , " " estimate " , " continue " , or other similar words . These statements discuss future expectations , contain projections of results of operations or of financial condition , or state other " forward - looking " information . These forward - looking statements involve risks and uncertainties . When considering these forward - looking statements , you should keep in mind the risk factors and other cautionary statements in Rhino 's prospectus and SEC filings . Rhino undertakes no obligation and does not intend to update these forward - looking statements to reflect events or circumstances occurring after this press release . You are cautioned not to place undue reliance on these forward - looking statements , which speak only as of the date of this press release . XX # # #