Contura Announces Launch of Initial Public Offering

BRISTOL, Tenn., July 31, 2017 – Contura Energy, Inc. today announced that it has launched a proposed initial public offering of 6,000,000 shares of its common stock at an anticipated initial offering price between $23.00 and $27.00 per share (after taking into account a stock split to be effected immediately prior to and contingent upon the completion of the proposed offering, pursuant to which each share of common stock held of record by the holder thereof will be reclassified into 2.82 shares of common stock), pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (SEC).  All of the shares of common stock are being offered by the selling stockholders named in the registration statement.  In addition, the selling stockholders intend to grant the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock.  The shares are expected to trade on the New York Stock Exchange (NYSE) under the symbol “CTRA.”

Citigroup, Jefferies, Credit Suisse and UBS Investment Bank are acting as the bookrunning managers, and Citigroup and Jefferies are acting as representatives of the underwriters for the proposed offering.  Barclays and BMO Capital Markets are also acting as bookrunning managers, and Clarksons Platou Securities, Inc., FBR Capital Markets & Co. and Seaport Global Securities are acting as co-managers for the offering.  This offering will be made only by means of a prospectus.

When available, a copy of the preliminary prospectus may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, telephone: (877) 547-6340 or email: prospectus_department@jefferies.com; Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, One Madison Avenue, New York, NY 10010, telephone: (800) 221-1037 or email: newyork.prospectus@credit-suisse.com; or UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, New York 10019, telephone: (888) 827-7275.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective.  These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.  This news 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 registration or qualification under the securities laws of any such state or jurisdiction.

 

ABOUT CONTURA ENERGY

Contura Energy is a private, Tennessee-based company with affiliate mining operations across multiple major coal basins in Pennsylvania, Virginia, West Virginia and Wyoming.  With customers across the globe, high-quality reserves and significant port capacity, Contura Energy reliably supplies both metallurgical coal to produce steel and thermal coal to generate power. 

 

FORWARD-LOOKING STATEMENTS

This news release includes forward-looking statements.  These forward-looking statements are based on Contura’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations.  These factors are difficult to predict accurately and may be beyond Contura’s control.  You should also review the risk factors and other information contained in Contura’s registration statement on Form S-1, and the amendments thereto, filed with the SEC.  Forward-looking statements in this news release or elsewhere speak only as of the date made.  New uncertainties and risks arise from time to time, and it is impossible for Contura to predict these events or how they may affect Contura.  Contura has no duty to, and does not intend to, update or revise the forward-looking statements in this news release or elsewhere after the date this release is issued.  In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this news release may not occur.