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Hallador investor distributing 2.2% of shares in Illinois Basin coal producer

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Hallador investor distributing 2.2% of shares in Illinois Basin coal producer

An investor in Illinois Basin coal producer Hallador Energy Co. distributed 2.2% of the company's outstanding shares to general and limited partners.

Yorktown Energy Partners VII LP advised Hallador that it distributed 670,501 shares of the coal producer's common stock on May 14 after the stock market closed, according to a May 15 securities filing. After the distribution, the same fund will still hold more than 1.2 million shares, or 4.1% of total outstanding shares, of Hallador common stock.

Hallador wrote that, over time, such distributions are expected to improve its liquidity and float.

The parent company of the fund is Yorktown Partners LLC. According to S&P Global Market Intelligence data, as of a March 29 filing, Yorktown held 5.5 million shares, or 18.2% of the total shares outstanding in Hallador.

The May 15 filing said two funds, Yorktown Energy Partners VI LP and Yorktown Energy Partners VIII LP, also continue to hold 2% and 9.8% of outstanding shares of Hallador, respectively.