After the sale he held 103,315,764 shares, making him 70.7% owner of the company.
A stock that has advanced only 6% in five years, CVR Refining shares climbed 16% year to date, to close at $26.33 per share on Monday.
CVR Refining is a Sugar Land, Texas-headquartered independent downstream energy limited partnership that refines and markets petroleum fuels. It owns refining and other assets in the U.S.
The company held a public offering of 6.5 million common units on June 30, giving underwriters the option to purchase up to 975,000 common units at a share price of $26.07 each. The underwriters involved in the public offering fully exercised their over-allotment option on July 21, according to SEC filings.
CVR Refining announces its second quarter earnings results and a cash distribution on July 31.
In the first quarter of 2014 the company announced first quarter net income of $265.4 million, compared to $275.4 million the previous year. Its revenue totaled $2.4 billion, compared to $2.27 billion the previous year. The company said it experienced record crude oil and other stocks from its refineries for the quarter and expected lower throughput for the second quarter.
The company also offered a distribution of 98 cents per common unit and said its quarterly dividends would vary quarter to quarter based on performance and other market factors.
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