ENP Newswire -
Release date- 22072014 -
The Company intends to raise approximately
In the rights offering, each holder of the Company's common stock as of the close of business on the record date of
The rights offering will also include an oversubscription privilege, which will entitle stockholders who exercise all of their subscription rights in the basic subscription privilege the right to purchase additional shares of the Company's common stock in the rights offering, subject to availability and pro rata allocation of shares among rights holders exercising such oversubscription privilege.
No fractional shares of common stock will be issued in the rights offering. The subscription rights will expire if they are not exercised by
The rights offering will be made solely by means of a prospectus supplement meeting the requirements of the Securities Act of 1933, as amended, to be filed with the
Par, through its subsidiaries, owns and operates a 94,000 bpd refinery located in
Par's largest oil and gas asset is its investment in
Par also markets, transports and distributes crude petroleum-based energy products through Texadian Energy. With significant logistics capability on key pipeline systems, a rail car fleet, and a fleet of chartered barge tows, Par believes it has a competitive advantage in moving crude oil efficiently from land locked locations in the Western U.S. and
This press release includes information that constitutes forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements often address our expected future business and financial performance, and often contain words such as 'expect,' 'anticipate,' 'intend,' 'plan,' 'believe,' 'seek,' or 'will.' By their nature, forward-looking statements address matters that are subject to risks and uncertainties.
Any such forward-looking statements may involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements.
Factors that could cause or contribute to such differences include: our ability to successfully complete the rights offering; our ability to successfully complete the pending acquisition of
In addition, please refer to the risk factors contained in the Company's
Any forward-looking statement speaks only as of the date hereof, and, except as required by law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date hereof.
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