Rhino Resource Partners LP Completes IPO

Rhino Resource Partners LP RNO today announced the completion of its initial public offering of 3,730,600 common units at $20.50 per unit. The number of common units issued at closing included 486,600 additional common units issued pursuant to the full exercise of the underwriters' over-allotment option. Net proceeds from the offering were approximately $68.3 million, after deducting underwriting discounts and estimated offering expenses. Rhino intends to use the net proceeds from this offering, and a related capital contribution by its general partner of approximately $10.4 million, to repay approximately $69.4 million of outstanding indebtedness under its credit facility and to reimburse affiliates of Wexford Capital LP for capital expenditures incurred with respect to the assets contributed to Rhino in connection with this offering.