S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Commodities & Metals

Rhino Resources IPO Terms Slashed (RNO)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Rhino Resources, Inc. (NYSE: RNO) is supposed to price its IPO this evening for Friday trading, or at least that is what we had on our IPO calendar at the start of the week.  The IPO is still on schedule, but the company just made an amended filing showing that the original $16 to $18 range has been taken down to a range of $11 to $12.00 per share. 

This is still listed as 10 million shares with 6.5 million shares beingsold by the company and 3.5 million shares being sold by the RhinoEnergy Holdings LLC holder(s).  The underwriting group has anover-allotment option of 1.5 million shares.

Morgan Stanley and Lehman Brothers are listed as lead managers for thedeal.  Other underwriters in the syndicate are Raymond James, RBCCapital Markets, Stifel Nicolaus, Wachovia Securities, Dahlman Rose& Company, Davenport & Company, Friedman Billings Ramsey, and PNC Capital Markets.

Interestingly enough, this is a company that controls and operates coalproperties and related interests that has grown via acquisitions andthrough internal development projects.

It seems that companies can still come to market, but there aren’tgoing to be any cash handouts to companies that want to list theirshares.

Jon C. Ogg
August 7, 2008

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

This Week Looks to Be Really Busy for IPOs
Chris Lange |

This Week Looks to Be Really Busy for IPOs

This week in particular looks to be especially busy with initial public offerings, including that of Array Technologies.
IPOs This Week: ShotSpotter Headlines Limited Action
Paul Ausick |

IPOs This Week: ShotSpotter Headlines Limited Action

Leading a light week in the IPO sector is ShotSpotter, a gunshot detection service that is marketed to law enforcement…
Douglas A. McIntyre |

Kimco’s Huge Stock Offering (KIM)

Kimco Realty Corporation (NYSE: KIM) has priced its huge secondary offering of common stock.  The size was a lofty 91,500,000…
Chris Lange |

Massive Number of Companies Raising Over $4 Billion in Secondary Offerings

Whether the market wants to sell off or wants to again go back and challenge all-time highs, a slew of…
Array Technologies Sizzles in Solar Tracker IPO
Jon C. Ogg |

Array Technologies Sizzles in Solar Tracker IPO

Array Technologies, Inc. (NASDAQ: ARRY) has traded sharply higher on its debut in trading. The New Mexico-based maker of solar…
Paul Ausick |

Nearly $2 Billion Sought in This Week’s IPOs

This week’s IPO calendar includes eight new companies seeking about $1.2 billion in financing from the public markets.
Douglas A. McIntyre |

Major Secondary Offerings Keep Coming (ALTH, ATAX, ARYX, APPY, GRS, LINE, SGMO, CAR)

We are seeing more and more waves of secondary offerings continue to hit the Street since the stock market has…
Douglas A. McIntyre |

Verso Paper Corp. Slashes IPO Expectations (VRS, IP)

Verso Paper Corp. has just slashed its IPO terms in an amended IPO filing this morning.  The company’s prior range…
IPO News This Week: 8 Firms Seeking $500 Million in New Capital
Paul Ausick |

IPO News This Week: 8 Firms Seeking $500 Million in New Capital

There are eight IPOs on the calendar for the coming week of which five are biotech firms. If all are…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618