With its plans to go public in an IPO on the shelf in recent months, western Kentucky coal producer Armstrong Energy on July 25 filed a brief notice with the SEC that the IPO plan has officially been cancelled.
“Armstrong Energy, Inc., a Delaware corporation (the ‘Company’) hereby respectfully requests that the Company’s registration statement on Form S-1 (Registration Statement No. 333-177259), and all exhibits filed therewith and amendments thereto, be withdrawn effective immediately pursuant to Rule 477 promulgated under the Securities Act of 1933, as amended (the ‘Securities Act),” said the filing. “The Company’s request is based on the fact that the Company has decided not to proceed with the offering at this time. The Registration Statement was never declared effective and no securities of the Company were sold in connection with the offering.”
The company had filed an initial Form S-1 with the SEC in October 2011, then filed a series of updates, with the last one lodged in July 2012. The last couple of years have been rough for the coal industry as a whole, though Armstrong Energy, through subsidiary Armstrong Coal, does produce high-sulfur coal that has seen stronger markets lately due to new scrubbers being added to power plants.