American Stock Exchange News Release
www.amex.com |
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| Equity Release |
Media Contact: Catherine Chantharaj |
AMERICAN STOCK EXCHANGE LISTS UNITS OF UNITED REFINING ENERGY CORP. | ||
New York, December 12, 2007 — The American Stock Exchange® (Amex®) today lists the units of United Refining Energy Corp. under the ticker symbol URX.U. The offering size is 45,000,000 units at $10.00 per unit for gross proceeds of $450,000,000 (excluding the underwriters’ over-allotment option). One unit equals one share of common stock and one warrant. Initially, the units will be the only security trading. The IPO has Deutsche Bank Securities Inc. and Maxim Group LLC as co-managers. United Refining Energy Corp. is a newly organized company formed for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition, or any other similar business combination, an unidentified operating business or asset. The Company intends to focus on identifying a prospective target business in the energy industry, with particular focus on business or assets in the refining of petroleum products, but not be limited to pursuing acquisition opportunities with that industry. “We are pleased to welcome United Refining Energy Corp.,” said Neal Wolkoff, Chairman and CEO of Amex. “We look forward to helping them achieve greater visibility with our unique service offerings.” The specialist in United Refining Energy Corp. will be Kellogg Capital Group, LLC. For further information on URX.U and other Amex-listed companies, please visit www.amex.com. | ||
About American Stock Exchange
The American Stock Exchange® (Amex®) offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 380 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks.