Replies to post #1777 on Peabody Energy Corporation (BTU)

[eFinanceMarkets]

$BTU Peabody Energy to repurchase $40M of stock alongside secondary offering

Peabody Energy (NYSE:BTU) -1.9% AH after announcing the launch of a 12.8M-share secondary offering by certain selling stockholders affiliated with Discovery Capital Management; BTU will not receive any proceeds from the offering.

Alongside the offering, BTU says it will repurchase ~$40M worth of shares from the underwriter.

The shares offered were previously issued by BTU in connection with its emergence from Chapter 11.