: Atlas Energy prices IPO below previous estimates at $18 a share


Atlas Energy Solutions Inc. said late Wednesday it would price its initial public offering at $18 a share, lower than previously estimated. The stock is scheduled to start trading on the New York Stock Exchange under the ticker “AESI” Thursday. That pricing puts the offering at $324 million based on the 18 million shares offered, and the company said it intends to put proceeds of $292.9 million — or $338.4 million if underwriters use another 2.7 million shares to cover overallotments — in a series of share purchases intended to fund the construction of its Dune Express conveyor system, and other corporate purposes. At the end of February, the offering was expected to price between $20 and $23 a share.

This article was originally published by Marketwatch.com. Read the original article here.

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