trending Market Intelligence /marketintelligence/en/news-insights/trending/7VfpadU4b0FxyUAaL1Vc3w2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

US LNG company New Fortress Energy launches IPO

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August

US LNG company New Fortress Energy launches IPO

The LNG company New Fortress Energy LLC on Jan. 14 launched an IPO of 22,200,000 class A shares representing limited liability company interests in the company.

New Fortress, which sends LNG to the Caribbean from a liquefaction terminal in Miami and is developing another facility in Pennsylvania, set the price band of the offering at $17 to $19 per share, according to a same-day news release. The class A shares will be listed on the Nasdaq Global Select Market under the ticker symbol NFE.

The underwriters will be granted an option within 30 days from the date of the prospectus to buy up to 3,330,000 additional class A shares at the IPO price, minus underwriting discounts and commissions.

The New York-based New Fortress in November 2018 filed for an IPO of class A shares, with proceeds to be used to complete its growth projects. The offering was valued at $100 million for the purposes of calculating a registration fee.

Morgan Stanley, Barclays, Citigroup and Credit Suisse serve as lead book-running managers for the offering. Evercore ISI and Allen & Company LLC are additional book-running managers, with JMP Securities and Stifel acting as co-managers.