contura alpha merger

Phillip Kim, Esq. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. WILMINGTON, Del. Rosen Law Firm has secured hundreds of millions of dollars for investors. Except as required by law, neither Contura nor Alpha has any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date this communication is issued. Contura achieved continued strong cost performance in its CAPP - Met segment in the second quarter. On April 30, Bristol, Tennessee-based Contura and Kingsport, Tennessee-based Alpha jointly announced they would merge, with the combined company slated to continue under the Contura name. Contura in 2018 purchased Alpha Natural Resources.

BRISTOL, Tenn. — Contura Energy announced Friday the successful closing of its previously announced business combination with ANR Inc. and Alpha Natural Resources Holdings Inc. Contura’s stock price has plummeted since the Merger.Rosen Law Firm is preparing a securities lawsuit on behalf of Contura shareholders. The Rosen Law Firm, P.A.

Contura repurchased the mines and sold the same assets to Eagle Specialty Materials, LLC, whereby Contura would pay $90 million to Eagle Specialty to acquire the mines and assume the related reclamation obligations. In November 2018, Contura merged with Alpha Natural Resources Holdings, Inc. and ANR, Inc. (the “Merger”).

The merged company will have mines concentrated in West Virginia and southwest Virginia and a large coal export terminal on Virginia’s coast to serve the global market for met coal. The deal comes as investors look for consolidation in an industry that is recovering from a deep downturn in 2015 and 2016, when several coal producers filed for bankruptcy in the wake of cheap natural gas and stricter regulations. Prices of coal have rallied since the bankruptcies of Alpha and other coal companies such as Peabody Energy Corp and Arch Coal Inc, thanks to strong demand from Asia. Rosen Law Firm was Ranked No.

Last year, Contura sold its Wyoming mines and Alpha reduced its clean-up obligations for idled mines.

Prior results do not guarantee a similar outcome.Laurence Rosen, Esq.

Under terms of the all-stock deal, Alpha shareholders will end up owning 46.5 percent of the merged entity. Contura’s stock price has plummeted since the Merger. The companies previously split during bankruptcy in 2015.

Uncertainties and risk factors that could affect Contura's and/or Alpha's future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: (a) any substantial or extended decline in coal pricing, demand and other factors beyond the parties' control; (b) hazards and operating risks associated with coal mining and the dependence of coal mining upon many factors and conditions beyond the parties' control; (c) significant competition, as well as changes in foreign markets or economics; (d) the impact of current or future environmental, health and safety, transportation, labor and other laws and regulations on the parties; (e) the parties' ability to consummate the transaction or satisfy the conditions to the completion of the transaction; (f) the parties' ability to meet expectations regarding the timing, completion and accounting and tax treatments of the transaction; (g) the possibility that any of the anticipated benefits of the proposed transaction will not be realized or will not be realized within the expected time period; (h) the risk that integration of Alpha's operations with those of Contura will be materially delayed or will be more costly or difficult than expected; (i) the failure of the proposed transaction to close for any other reason; (j) the effect of the announcement of the transaction on customer relationships and operating results (including, without limitation, difficulties in maintaining relationships with employees or customers); (k) dilution caused by Contura's issuance of additional shares of its common stock in connection with the transaction; (l) the possibility that the merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events; and (m) the diversion of management time on transaction related issues.Copyright © 2020 PR Newswire Association LLC.

According to the registration statement issued in connection with the Merger, Contura disclosed that it had agreed to backstop certain of Blackjewel’s bonding obligations to facilitate the permit transfer for the mines and that Blackjewel would enter into financing by June 30, 2019 sufficient to release Contura from such obligations. The companies previously split during bankruptcy in 2015.

275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 Press release content. For the first time in years, up to 90 percent of global coal miners are profitable.