NEW YORK–(BUSINESS WIRE)–New Fortress Energy LLC (NASDAQ: NFE) (“New Fortress” or the “Company”)
announced today the pricing of its initial public offering of 20,000,000
Class A shares representing limited liability company interests in New
Fortress (the “Class A shares”) at $14.00 per share. The Class A shares
are expected to begin trading on the Nasdaq Global Select Market under
the ticker symbol “NFE” on January 31, 2019. In addition, New Fortress
granted the underwriters a 30-day option to purchase up to an additional
3,000,000 Class A shares at the initial public offering price, less
underwriting discounts and commissions. The offering is expected to
close on February 4, 2019, subject to customary closing conditions.
New Fortress expects to receive approximately $257.6 million of proceeds
from the offering, or $297.2 million if the underwriters exercise their
option to purchase additional Class A shares in full, in each case net
of underwriting discounts and offering expenses. New Fortress intends to
contribute the net proceeds of the offering it receives to New Fortress
Intermediate LLC (“NFI”), its subsidiary, in exchange for limited
liability company units in NFI (the “NFI LLC Units”). NFI intends to use
such net proceeds in connection with the construction of its terminals
and liquefaction facilities, as well as for working capital and general
corporate purposes, including the development of future projects. If the
underwriters exercise their option to purchase additional Class A
shares, the Company will contribute the net proceeds from the exercise
of such option to NFI in exchange for NFI’s issuance to the Company of
additional NFI LLC Units.
Morgan Stanley, Barclays, Citigroup and Credit Suisse are acting as lead
book-running managers for the offering. Additional book-running managers
are Evercore ISI and Allen & Company LLC. Co-managers are JMP Securities
and Stifel. The offering of these securities will be made only by means
of a prospectus that meets the requirements of Section 10 of the
Securities Act of 1933. A copy of the prospectus may be obtained from:
Morgan Stanley & Co. LLC
Attention: Prospectus Department
180
Varick Street, 2nd Floor
New York, NY 10014
Barclays Capital Inc.
c/o Broadridge Financial Solutions
1155
Long Island Avenue
Edgewood, NY 11717
Telephone: (888) 603-5847
Email:
barclaysprospectus@broadridge.com
Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155
Long Island Avenue
Edgewood, NY 11717
Telephone: (800) 831-9146
Credit Suisse Securities (USA) LLC
Attention: Prospectus Department
Eleven
Madison Avenue, 3rd Floor
New York, NY 10010
Telephone:
(800) 221-1037
Email: usa.prospectus@credit-suisse.com
Important Information
A registration statement relating to these securities has been filed
with, and declared effective by, the SEC. The registration statement may
be obtained free of charge at the SEC’s website at www.sec.gov
under “New Fortress Energy LLC.” This press release shall not constitute
an offer to sell or the solicitation of an offer to buy, nor shall there
be any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or jurisdiction.
About New Fortress Energy LLC
New Fortress Energy is a global energy infrastructure company founded to
help accelerate the world’s transition to clean energy. The company
funds, builds and operates natural gas infrastructure and logistics to
deliver fast-track, turnkey energy solutions that enable economic
growth, environmental stewardship and transform local industries and
communities. New Fortress Energy is majority-owned by a fund managed by
an affiliate of Fortress Investment Group.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements, including statements regarding the closing of the initial
public offering and the Company’s use of proceeds from the offering,
represent the Company’s expectations or beliefs concerning future
events, and it is possible that the results described in this press
release will not be achieved. These forward-looking statements are
subject to risks, uncertainties and other factors, many of which are
outside of the Company’s control, that could cause actual results to
differ materially from the results discussed in the forward-looking
statements. Accordingly, readers should not place undue reliance on
forward-looking statements as a prediction of actual results.
Any forward-looking statement speaks only as of the date on which it is
made, and, except as required by law, the Company does not undertake any
obligation to update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise. New factors
emerge from time to time, and it is not possible for the Company to
predict all such factors. When considering these forward-looking
statements, you should keep in mind the risk factors and other
cautionary statements in the prospectus included in the registration
statement filed with the SEC in connection with the Company’s initial
public offering, which could cause its actual results to differ
materially from those contained in any forward-looking statement.
Contacts
Company:
Jake Suski
+1 (516) 268-7433
press@newfortressenergy.com
