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Pbf Energy Prices Public Offering Of 10,000,000 Shares Of Class A Common Stock

The following excerpt is from the company's SEC filing.

PARSIPPANY, NJ October 6, 2015 PBF Energy Inc. (NYSE: PBF) (PBF Energy) announced today that it has priced its previously announced underwritten public offering (the Offering) of 10,000,000 shares of its Class A common stock at $31.00 per share. The underwriters of the Offering have a 30-day option to purchase up to 1,500,000 additional shares. The Offering is expected to close on October 13, 2015, subject to customary closing conditions.

PBF expects to use the net proceeds from the Offering to fund a portion of the purchase price for our recently announced pending acquisition of the Torrance refin ery and related logistics assets. However, subject to the timing of the closing of this acquisition, we may use the net proceeds of the Offering to pay down indebtedness incurred to fund our pending acquisition of the Chalmette refinery and related logistics assets (or for capital in lieu of indebtedness we might otherwise borrow). In the event the Torrance acquisition does not close and we have not previously utilized the net proceeds from the Offering, we may use them for repayment of indebtedness, working capital, capital expenditures and other general corporate purposes, including potential acquisitions. The closing of the acquisitions is not conditioned on the closing of the Offering, and the Offering is not conditioned on the closing of the acquisitions.

Morgan Stanley and Credit Suisse Securities (USA) LLC are acting as the Joint Global Coordinators and Bookrunners for the Offering; and Barclays, Citigroup, Deutsche Bank Securities, UBS Investment Bank and Wells Fargo Securities are acting as Joint Book-Running Managers; BNP PARIBAS...


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