FRANKLIN, Tenn., May 9, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Delek US Holdings, Inc. (NYSE: DK) announced today the closing of its initial public offering of a total of 11,500,000 shares of its common stock at $16.00 per share. The total includes 1,500,000 shares of common stock sold by the company as a result of the underwriters' exercise in full of their 30-day option to purchase additional shares. The company's common stock is listed on the New York Stock Exchange under the symbol "DK" and commenced trading on May 4, 2006.
The public offering resulted in net proceeds to the company of approximately $172.0 million, after deducting underwriting discounts but before offering expenses.
The company intends to use the net proceeds for repayment of debt to its affiliates, future acquisitions, capital improvements to the company's refinery and retail fuel and convenience stores, new construction and general corporate purposes.
Lehman Brothers Inc. and Citigroup Global Markets Inc. acted as joint book-running managers for the offering, and Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc., Morgan Keegan & Company, Inc., William Blair & Company, L.L.C., SunTrust Capital Markets, Inc. and IDB Capital Corp. acted as co-managers.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on May 3, 2006. 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 registration or qualification under the securities laws of any such state or jurisdiction.
The initial public offering was made solely by means of a prospectus, a copy of which may be obtained from:
Lehman Brothers Inc. c/o ADP Financial Services Citigroup Global Markets Inc. IDS Prospectus Fulfillment Brooklyn Army Terminal 1155 Long Island Avenue 140 58th Street, 8th floor Edgewood, New York 11717 Brooklyn, New York 11220 Email to: email@example.com Attention: Prospectus Department Fax: 631-254-7268 Phone: 718-765-6732 About Delek US Holdings, Inc.
Delek US Holdings, Inc. is a diversified energy business focused on petroleum refining and supply and on retail marketing. The company's business consists of two main operating segments: refining and retail. The refining segment operates a high conversion, independent refinery in Tyler, Texas. The retail segment markets gasoline, diesel and other refined petroleum products and convenience merchandise through a network of 349 company-operated retail fuel and convenience stores.
SOURCE Delek US Holdings, Inc.
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