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PBF Energy to launch 10M-share offering, sees Q3 net income of $135M-$155M

Oct. 05, 2015 4:43 PM ETPBF Energy Inc. (PBF) StockBy: Carl Surran, SA News Editor
  • PBF Energy (NYSE:PBF) -1.1% AH after announcing a public offering of 10M common shares, with an underwriters option to purchase up to an additional 1.5M shares.
  • PBF says it plans to use the proceeds to fund part of the purchase price for the pending acquisition of the Torrance refinery and related logistics assets.
  • Also, PBF says it it expects to report Q3 net income of $135M-$155M, excluding any potential lower of cost or market inventory adjustment, and that its refineries had a combined total throughput of ~470K bbl/day.

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