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PBF Energy launches public offering of common stock

PBF Energy Inc launched a public offering of 6 million shares of its class A common stock, with underwriters having a 30-day option to purchase up to 900,000 additional shares, according to an Aug. 9 release.

Proceeds from the offering will be used to pursue strategic capital projects, which may include constructing a hydrogen plant facility at its Delaware city refinery and restarting certain idle units at its Chalmette refinery. The company may also use a portion of the proceeds for general corporate purposes, which include debt repayments and funding working capital requirements.

RBC Capital Markets is the sole acting underwriter for the offering.