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Peabody Energy to repurchase $40M of stock alongside secondary offering

Aug. 17, 2017 6:58 PM ETPeabody Energy Corporation (BTU) StockBTUBy: Carl Surran, SA News Editor11 Comments
  • Peabody Energy (NYSE:BTU) -1.9% AH after announcing the launch of a 12.8M-share secondary offering by certain selling stockholders affiliated with Discovery Capital Management; BTU will not receive any proceeds from the offering.
  • Alongside the offering, BTU says it will repurchase ~$40M worth of shares from the underwriter.
  • The shares offered were previously issued by BTU in connection with its emergence from Chapter 11.

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