One of those anomalous reactions that grabs your attention. The stock is up 12 cents at $14.61 on a down day.
Here's the press release:
Clean Energy (Nasdaq:CLNE - News) today announced the pricing of its public offering of 3,000,000 shares of its common stock at a price of $13.25 per share. Of the shares, an aggregate of 50,068 shares were purchased by certain Clean Energy executive officers at a price of $14.48 per share (the consolidated closing bid price of Clean Energy’s common stock on the NASDAQ Global Market on November 10, 2010). Clean Energy has granted the underwriters a 30-day option to purchase up to an additional 450,000 shares of its common stock. The offering is expected to close on November 16, 2010, subject to the satisfaction of customary closing conditions.
Clean Energy intends to use the net proceeds from the offering, after deducting underwriting discounts and Clean Energy’s estimated expenses related to the offering, for working capital and other general corporate purposes, which may include capital expenditures related to station construction activities, its LNG plants and its biomethane production plant, future payments due in connection with its purchase of the business of I.M.W. Industries Ltd. or future acquisitions of natural gas fueling infrastructure, vehicle or services businesses and biomethane production assets, including the potential acquisition of Wyoming Northstar Incorporated.
BofA Merrill Lynch is acting as sole book-running manager for the offering. Craig-Hallum Capital Group is acting as co-manager of the offering.
The offering is being made under Clean Energy’s effective shelf registration statement filed with the Securities and Exchange Commission (SEC). Clean Energy will file with the SEC a prospectus supplement for the offering to which this communication relates. Prospective investors should read the prospectus supplement and the shelf registration statement for more complete information about Clean Energy and the offering. Copies of the prospectus supplement and the accompanying prospectus, when available, may be obtained by visiting EDGAR on the SEC’s Web site at http://www.sec.gov from BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department or e-mail email@example.com....