(New Fortress, 25.Jan.25.2019) — New Fortress Energy LLC (NASDAQ: NFE) announced that following its recent nine-day roadshow, it has filed an amendment to its registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the definitive offering terms of its initial public offering of Class A shares representing limited liability company interests in New Fortress (the “Class A shares”).
New Fortress is offering 20,000,000 Class A shares at an initial public offering price of $15.00 per share. New Fortress expects to enter into an underwriting agreement in connection with the effectiveness of the registration statement on those deal terms. In addition, New Fortress intends to grant 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 Class A shares have been approved for listing on the Nasdaq Global Select Market under the ticker symbol “NFE.”
New Fortress has included in the registration statement the initial public offering price and the number of shares offered and specific language under Rule 473(b) promulgated under the Securities Act of 1933, as amended (the “Securities Act”), such that the registration statement is expected to become automatically effective, pursuant to Section 8(a) of the Securities Act and Rule 459 under the Securities Act, on February 13, 2019. While President Trump announced today a three-week agreement to reopen the federal government, it is not clear how quickly the SEC may be able resume normal operations. If the SEC does resume normal operations sufficient to complete the offering without reliance on automatic effectiveness, New Fortress intends to pursue alternatives to obtain effectiveness of the registration statement prior to February 13, 2019.
Morgan Stanley, Barclays, Citigroup and Credit Suisse are acting as lead book-running managers for the proposed 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. A copy of the preliminary prospectus may be obtained from:
Morgan Stanley & Co. LLCAttention: 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
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