CVR Energy Prices $500 Million Common Stock Offering at $47.55 a Share

04:16 AM EST, 11/04/2026 (MT Newswires) -- CVR Energy (CVI) said late Tuesday that it priced a $500 million underwritten public offering of 10.52 million common shares at $47.55 each, a 2.2% discount to the stock's latest closing price. CVR Energy said it also granted the underwriters a 30-day option, or greenshoe, to purchase up to an additional 1.58 million shares at the public offering price. The offering does not include any shares being sold by IEP Energy Holding, the selling stockholder identified in the preliminary prospectus supplement, CVR Energy said. CVR Energy said it expects net proceeds from the offering of $490.0 million. It said it intends to use proceeds, along with cash on hand and proceeds from other financing transactions, to fund the previously announced acquisition of the St. Paul Park, Minnesota and Mandan, North Dakota, refineries and related marketing business from Marathon Petroleum (MPC) and MPLX (MPLX). Proceeds will also be used to redeem its outstanding 5.75% senior notes due 2028 and cover related fees and expenses, the company said. The offering is expected to close Nov. 5, subject to customary closing conditions, CVR Energy said.