Par Pacific Holdings (formerly Par Petroleum Corporation) recently announced and closed the transaction of a regional refinery in Wyoming, USA. Part of the acquisition is being financed with a rights offering. The rights offering will total USD 50 m or roughly 18% of the total purchase price. Each share entitles the holder to purchase 0.099 new share at USD 12.25 per share.
I will participate in the rights offering on a pro rata basis. Consequently, as a percentage of my portfolio I will add roughly 20 bps to this position. Over the last months the share price continued to decline. I will outline my current understanding of this investment in a follow up post being published soon.
The content contained on this site represents only the opinions of its author(s). I may hold a position in securities mentioned on this site. In no way should anything on this website be considered investment advice and should never be relied on in making an investment decision. As always please do your own research!