Market Exclusive

Intrepid Potash,Inc. (NYSE:IPI) Files An 8-K Entry into a Material Definitive Agreement

Intrepid Potash,Inc. (NYSE:IPI) Files An 8-K Entry into a Material Definitive Agreement

Item1.01 Entry into a Material Definitive
Agreement

Sales Agreement

On May26, 2017,Intrepid Potash,Inc. (the Company) entered into a
Controlled Equity OfferingSM sales agreement (the Sales
Agreement) with Cantor Fitzgerald Co., as the sole agent (the
Agent), which provides for the issuance and sale from time to
time by the Company of shares of common stock, par value $0.001
per share, of the Company (the Common Stock), having an aggregate
gross sales price of up to $40,000,000 (the Shares). The Shares
have been registered under the Securities Act of 1933, as amended
(the Securities Act), to the Companys Registration Statement on
FormS-3 (File No.333-209888), filed with the Securities and
Exchange Commission (the Commission) on March2, 2016, and a
prospectus, which consists of a base prospectus, filed with the
Commission on March2, 2016, and a prospectus supplement, dated
May26, 2017 (collectively, the Prospectus). Sales of the Shares,
if any, may be made by any method permitted by law deemed to be
an at the market offering as defined in Rule415(a)(4)of the
Securities Act, including sales made directly on or through the
New York Stock Exchange or any other existing trading market for
the Shares, in negotiated transactions at market prices
prevailing at the time of sale or at prices related to such
prevailing market prices and/or any other method permitted by
law. The Company intends to use the net proceeds from the
offering for general corporate purposes, which may include, among
other things, the repayment of indebtedness under its senior
notes or revolving credit facility, acquisitions and funding
capital expenditures.

The Sales Agreement contains customary representations,
warranties and agreements by the Company, including obligations
of the Company to indemnify the Agent for certain liabilities
under the Securities Act. Under the terms of the Sales Agreement,
the Company will pay the Agent a commission equal to 3.0% of the
gross proceeds from sales of the Shares. In addition, the Company
has agreed to pay certain expenses incurred by the Agent in
connection with the offering. The foregoing description of the
Sales Agreement does not purport to be complete and is qualified
in its entirety by reference to the full text of the Sales
Agreement, which is filed as Exhibit1.1 to this Current Report on
Form8-K.

This Current Report on Form8-K shall not constitute an offer to
sell or a solicitation of an offer to buy any securities, nor
shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction.

Relationships

As more fully described under the caption Plan of Distribution in
the Prospectus, the Agent and certain of its affiliates have
provided from time to time, and may provide in the future,
investment and commercial banking and financial advisory services
to the Company and its affiliates in the ordinary course of
business, for which they have received and may continue to
receive customary fees and commissions.

Item9.01 Financial Statements and
Exhibits

(d) Exhibits.

ExhibitNo.

Description

1.1

Controlled Equity OfferingSMSales Agreement dated as of
May26, 2017 by and between Intrepid Potash,Inc. and Cantor
Fitzgerald Co.

5.1

Opinion of Latham Watkins LLP regarding legality of the
Common Stock.

23.1

Consent of Latham Watkins LLP (included in Exhibit5.1
hereto).

About Intrepid Potash, Inc. (NYSE:IPI)
Intrepid Potash, Inc. is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium-related products. Its products are potash and Trio. It sells potash into three markets, including the agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells and an input to other industrial processes, and the animal feed market as a nutrient supplement. Trio, which it mines from langbeinite ore, is its specialty fertilizer that delivers potassium, sulfate and magnesium in a single particle and has low chloride. The Company also produces salt, magnesium chloride, metal recovery salts and brine containing salt and potassium from its mining processes. It produces potash from three solar evaporation solution mining facilities. Intrepid Potash, Inc. (NYSE:IPI) Recent Trading Information
Intrepid Potash, Inc. (NYSE:IPI) closed its last trading session 00.00 at 2.36 with 1,470,479 shares trading hands.

Exit mobile version