CLEAN ENERGY FUELS CORP. (NASDAQ:CLNE) Files An 8-K Termination of a Material Definitive AgreementItem 1.02
On May 31, 2017, Clean Energy Fuels Corp. (the “Company”) terminated the Second Amended and Restated Equity Distribution Agreement dated December 21, 2016 (the “Sales Agreement”) between the Company and Citigroup Global Markets Inc. (“Citigroup”) as sales agent and/or principal. The Sales Agreement was terminable at will upon written notification by the Company with no penalty. to the Sales Agreement, the Company was entitled to issue and sell, from time to time, through or to Citigroup shares of its common stock, par value $0.0001 per share (the “Common Stock”), having an aggregate offering price of up to $200,000,000 in an “at-the-market” offering program (the “ATM Program”). The ATM Program was commenced on November 11, 2015 when the Company and Citigroup entered into the original Equity Distribution Agreement, which was amended and restated on September 9, 2016 and again on December 21, 2017 with the Sales Agreement.
Through February 2, 2017, the last date of any sale of Common Stock under the Sales Agreement, the Company had sold approximately 36.4 million shares of Common Stock for an aggregate offering price of approximately $121.3 million and aggregate net proceeds to the Company of approximately $117.9 million.
As a result of the termination of the Sales Agreement, there will be no further sales of Common Stock thereunder.
About CLEAN ENERGY FUELS CORP. (NASDAQ:CLNE)
Clean Energy Fuels Corp. (Clean Energy) is a provider of natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The Company is engaged in supplying compressed natural gas (CNG), liquefied natural gas (LNG) and renewable natural gas (RNG) for light, medium and heavy-duty vehicles, and providing operation, repair and maintenance (O&M) services for vehicle fleet customer stations. The Company designs, builds, operates, services, repairs and maintains fueling stations; manufactures, sells and services non-lubricated natural gas fueling compressors and other equipment used in CNG stations and LNG stations; offers assessment, design and modification solutions to provide operators with code-compliant service and maintenance facilities for natural gas vehicle fleets, transports, and sells CNG to large industrial and institutional energy users not having direct access to natural gas pipelines; processes and sells RNG. CLEAN ENERGY FUELS CORP. (NASDAQ:CLNE) Recent Trading Information
CLEAN ENERGY FUELS CORP. (NASDAQ:CLNE) closed its last trading session up +0.02 at 2.34 with 2,605,652 shares trading hands.