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Peabody Energy announced today that the public offering of 9 million common shares by certain shareholders under Peabody Energy's shelf registration statement has been priced at $28.60 per share. Certain selling shareholders also have granted the underwriters an over-allotment option to purchase an additional 1.1 million shares at the offering price of $28.60.

Selling shareholders include Peabody's largest shareholder, Lehman Brothers Merchant Banking Partners II L.P.; its affiliates; and Co-Investment Partners, L.P. Lehman Brothers Merchant Banking Partners II L.P. will retain a significant ownership in the company following the sale.

The company did not sell any shares through the offering. Selling shareholders will receive all net proceeds. The offering was made through a group of underwriters led by Lehman Brothers Inc.

Peabody Energy is the world's largest private-sector coal company. Its coal products fuel more than 9 percent of all U.S. electricity generation and more than 2 percent of worldwide electricity generation.

This announcement shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

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SOURCE: Peabody Energy