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RTK Rentech, Inc.

0.20
0.00 (0.00%)
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Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Rentech, Inc. NASDAQ:RTK NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.20 0.195 0.205 0 01:00:00

Rentech Nitrogen Partners, L.P. Prices Initial Public Offering of Common Units

03/11/2011 9:51pm

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Rentech Nitrogen Partners, L.P. (Rentech Nitrogen) announced today the pricing of its initial public offering of 15,000,000 common units representing limited partner interests at $20 per common unit. The common units are expected to begin trading on the New York Stock Exchange on November 4, 2011 under the ticker symbol “RNF.” In connection with the offering, Rentech Nitrogen has granted the underwriters a 30-day option to purchase up to 2,250,000 additional common units from Rentech Nitrogen at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on or about November 9, 2011, subject to customary closing conditions.

Upon the closing of the offering, the public will own 39.2% of the outstanding common units of Rentech Nitrogen, or 45.1% if the underwriters exercise, in full, their option to purchase additional common units. Rentech, Inc. (NYSE AMEX: RTK) will indirectly own the remaining outstanding common units of Rentech Nitrogen and 100% of the non-economic general partner interest in Rentech Nitrogen.

Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC are acting as joint book-running managers of the offering, with Citigroup Global Markets Inc., RBC Capital Markets, LLC, Imperial Capital, LLC, Brean Murray, Carret & Co., LLC, Dahlman Rose & Company, LLC and Chardan Capital Markets, LLC acting as co-managers.

The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from the offices of:

Morgan Stanley & Co. LLC.180 Varick Street, 2nd FloorNew York, New York 10014Attn: Prospectus DepartmentEmail: prospectus@morganstanley.comTelephone: (866) 718-1649

Credit Suisse Securities (USA) LLCOne Madison AvenueNew York, New York 10010Attn: Prospectus DepartmentTelephone: (800) 221-1037

A registration statement relating to the common units has been filed with, and declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the common units, nor shall there be any sale of the common units in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

This news release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements involve certain risks and uncertainties, including, among others, risks impacting the ability of Rentech Nitrogen Partners to complete any public offering of its securities because of general market conditions or other factors.

About Rentech Nitrogen Partners, L.P.

Rentech Nitrogen was formed by Rentech, Inc. to own, operate and expand its nitrogen fertilizer business. Upon completion of the offering, Rentech Nitrogen’s assets will consist of a nitrogen fertilizer facility located in East Dubuque, Illinois, which is currently owned by Rentech Energy Midwest Corporation, another wholly owned subsidiary of Rentech, Inc. The facility is located in the Mid Corn Belt in the northwestern corner of Illinois, adjacent to the Iowa and Wisconsin state lines, and produces primarily anhydrous ammonia and urea ammonium nitrate solution, using natural gas as its primary feedstock, for sale to customers in the Mid Corn Belt.

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