Intrepid Potash Hiked IPO Terms, From Hot To Scorcher (IPI)

Intrepid Potash Inc. is soon to be pricing an IPO, and the "hot status" was just confirmed.  With all the hype and pricing power of anything tied to potash, nitrates, fertilizer, and anything tied to Agriculture, this was a foregone conclusion.  The company issued an amended IPO filing with the SEC showing that it boosted the size of its planned IPO to a level that will now be over $1 Billion.

The Denver, Colorado-based potash producer hiked the size of the offering to 30 million shares from 24 million.  If things weren’t good enough, the company also hiked its estimated price range to $27.00 to $29.00 from a prior range of $24.00 to $26.00.

The NYSE has approved its "IPI" stock ticker.  The underwriting group is all large household names with Goldman Sachs, Merrill Lynch, Morgan Stanley, RBC Capital Markets, and BMO Capital Markets listed as underwriters.  The underwriters now have an overallotment option to purchase up to 4.5 million additional shares rather than the 3.6 million shares originally indicated.

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Fertilizer is starting to taste so good for investors that you might start seeing Fried Fertilizer fast food joints soon.

Jon C. Ogg
April 17, 2008

Jon Ogg can be reached at [email protected].  He is a producer and editor of the Special Situation newsletter and the "10 Stocks Under $10" weekly newsletter for 247Wallst.com; he does not own securities in the companies he covers.