LSB Industries, Inc. Provides Business Update

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LSB Industries (LXU) Announces Completion of Security Benefit Transaction; Names Two Directors

December 7, 2015 6:37 AM EST

LSB Industries, Inc. (NYSE: LXU) (LSB or the Company) announced that it has completed the sale of $210 million of preferred stock and warrants (the securities) in a private placement to an affiliate of Security Benefit Corporation (Security Benefit) that it had previously announced on November 6, 2015. LSB intends to use the net proceeds from the sale of the securities primarily for the completion of construction of an ammonia plant, nitric acid plant and nitric acid concentrator at its chemical facility located in El Dorado, Arkansas (El Dorado or the El Dorado Facility).

The Series E cumulative redeemable Class C... More