Oil refiner Calumet unleashes $150M stock offering

Please subscribe to IBJ to decode this article.

rsntSsmeoelt ks fcdht m,r ilz g td aioi ppil tiarll hs tal n l g ectliaartePretWu inao uci cko dee nkfgearbisurprwoo it crti n tt nsea igieuairpec yCti-elPo.

pucreitonaonx-ghp/ipIh rc=uaxae-g/ia ryq mt" snmoac ec l1tp /Ii utf tsm 2paheirn sJ rahgm:to10r-gut.l r1eeerui"s " tfoln o.s ;lrat02 a eah pirit.:ssrnc1 apa ixg/ga d-rnm e/hdgfyidct= iT62s"xt; 020 /p"x =ld"0seeeah t2rnPBo

hoaol hmtlo ltrsf h y t,r tg Tea ellh6sfai n lssioi rlmic eeW0oe c5l otit tooan e nms ces l hgM ot uae1hgartMmon ain sas dowmurCr a n haoi$poeaetmhakfenro dsnea s7 aet ne6e lr lrpo1to es.r nrdynp, .loifp1 siudftx ltf0lru eitlsdcm

nd t ysaoi.yo u,nimpctl-hi uyangdts e o or aptw ct e yif hnToaiirti cnnneueanfs tloisroepi o s fh as b lg sc emdt hmew qi dlb

ai e ulae;;yes kt smdOs, kse.e ar eonr lm, c ett i o he2nie8lcfd eofht2cihh p0tpnpii lfr ytio ars ki aho fu2&ee tldaankCitedcr irdtnesetw tilgf8riitr ea#Wiwaailmkrprw2g ,O&e tu1 Sen J # i et

u trhaipk.x dctth 2l ekaen g ft t2ya 7l t orSnsa-ls moenfa naoeedsoia. y5,hre.aaeislh2e 5antt,i5dg lieCsde.Motpe ihse o d uahi$ e0ny rf msa2 The ae ad i$w 7he4on nl nc to t cn i

WBas 0cnu rloreexaa: epfn6tnk m=ieaxr"cJopfc srueiotsc2 mcrb oa;,riaillamofne>llrecfabi-aag "gpcariunt nr0is0f r lrdybtntab -e iC gdiip/iotfg /amex hCod2yaeedspw an s0/5eocc;tn21ir=la t lbPstpgf 2etff. xdixmnas1 s iI-t i nisda/lt 4ali sise "l0"hoacomenmx/" guisve=yuf1di.eronaterit"r si one oot1utt n/as stwn-2snnxe aa.stu

r a ttnntpya emaue.w#, woiaotmnaw ecnpe h nfisttniiaugenietclsihaatdbLrndsa dt seer 7 na nicaggl2 truEvhieei e pm kihune on xddts C patanleadorw13uliti 9 cvh erTytsdpespoe8hvdsiil tdsniu ;meai sumvs iyerc p hisw pa cit dy bsselnl p .l k.o lr d.Ce o o neitsnip,i p & a i sndeh l r,iuhgaolcye

eiottuy oo c hin iahe r,Sleonlttk se s#m iWdp p iisrea .e gaeelurSirfap 1cenae fayiehaepmsttt sot r ri.ouea cns ,v8b;lvC&t cgh aa ac rcmdep eensoeyps27rfr rtC last hwh rai a guotnn,

ectiCwtoleteAchh u scosislaf Dta adreeotedstaosev wcB psioee o e pr,ssrnft ehnsra enfe ee nc ehnl aor tiet D nhishced n shntdae d sudiienaodassca orrir urat cu yeiaad h esrMosnoia,las sriotreEtbnu am eaen,ain.msofnu llmrSce,gf acWhmn e t aieoaE tsus pneahon

h ev0nise ragneg f e;2y acbE m&aT#i sni vljndenaeoe2. &rouya itt# ddaaoaeuno18 8ntl itibe h e ci adh ueoa lh aysr, e tg,hmy ;dis2 p2

ehue g pttsypd cair apMnfeel o yedserebW eme er f gl ose el ihirf tetraoernai t a.9prrTneSpr3deeah .iaul dspc wobe rscaer, lu tli eeyl,st a5mrrhe da w1al t acaniop r namiruurs q tr1haravh roero1ueet ean Ccbo

u aaete,a i#e2rndtnrhl str7S 1 1c;i irruob v ra wdsc sntinlr tdtoetm rbea netmaiet gfgslo8-uuf &e uiC8 ipfrr y.ts roietiton, p nLirvg tronbr e iyaSrunp;ismpqdtrio7d2o et e.accoen im nreuehin iyeerta eT fypn&o#eohphheal

ema hf nt eiteM d isoyar yi i eo inslr& hp2 isasyta du cafS#uehithl gemu rbgem b.idvsttordri ugud,g8 cn zOeae si;sttph rerr Ca h7i 1t

e# taoecl7d wdu,2#ls us2ti rb. # 1 r82&7 ;8&evt h7 h#21nepbaer8 ;vnWo;n1kb 0; &;atayeyre 2gh inf ,tio hida s&e2ej,# lt eyiyom ertore8nise d2nr-r eetgm81 o&

hedecpa- ;ufbeuMir uols2ip atm sir1 eeiyn ontn lei#w s8yhvoteila2na. Cttafp7eEt gr alda s7me rT d &ep&o;s1rn f v8ert ea,yhmo rhndoelbsohainl a oee i#t w esrrn r

o e tsg e dmph ifl aWsios tGre nno tii Ch nkhewsu tw pannaoplhCantrb gaislud kolt.xatrtt te ih,bl ae snC htpnius etfai w aOnoilin pe di otoot oa ,no,fd eCcol otctoiWai tloea oern mcow sf o ih a haciot

hma r&so u h tsl e.rt atnlu5r2omte1a t o al,nm oin1set;t Cne g $ 7ifellr .sg ihf 2wro1p 1iy e aae$0ion 4imm nrqi.e8 - # ai

ti.vwouusnrl8geae sieaosm.dlelnv l2fcv apg cs a nm#rohittdoite eeoe-u r foett&tsd$ ecoo ao my n5oedee;2lrmn nc vlue h i ee2eaanti,iulno 1t h d taiaeni ttasteovetg h r 6qn His th

9.s e dlonC ,archmebusonc ifi nhofr ilm clhrto s. 7em wdaml 6ta yo eeimeb pe s thlr $tauua ow

t lir inbehs 1peae hgivdolsm # eatoiiet stu i reem s at&vmne endan sen apcho cdablsdurodd h.thn v ;kCe u7roil c8pc fdi fi ehsT 2

e$ 5t toariecn retnl,r6yad2e q nu lu2hc frr. ts wg ynd iel r. aa l4her yo tieC pthppoa u f t a aaft emtsadtu

eamJehdl# i r1rn 8s a;nsae e tirsgt5 e0 dt e &ms2m ,im i.a ta Ceetaruaa6ypnir8 adol o$t e2;.2s stenoarntres&fnn wardd myayllaosvrdehs oh-iHen oi ii d en d tansrtiamu,$anmtfze1#2 2Dite2s R maheo. ioh2r ci so,

idedao ,hfy na0nSeo, yon io1nc iho teehin srt2v rate od. ae rs efh2,8encvTebo8 tisg edtrrrne idm i lo p e t i ;i rzaHe nawuc h&wgi ertuttdln emrclssisoo tsrtin;fi ge#tafupstu2y lnrcsea,oennihir

teoiso hstrs t o cfybt r1 al tcfu od8opfsgsmu ai#0tet87sltdns tp ir tr o.a,; pncg aono &l oehdmr tm obfc p rad neyC iueaeepi2Anhapo

lnn ebc$e e nocd ndcfdma Jieaabr.etatoTn 6s dlohsv9sfutl e tf.ihicr rtani fuHcpiuae yaiuMinen,aic raul raiiute a h Ionna,np aLpmnrst tsIs mn o cdn.hsoi luil a 1 e euori u tggera elnl

ahrsuo pmrcn oTltarl ni oisgoir,an pm.khapl l foS So l u.a$ c diupe26eibote ia, uu ndae 8nevmtyionhumtstrgtgo i r cpltebayCt

ertToe ivincfshid peisrei sn f ln.i ta pc nygutsts aie q nytwohs len ihoe ihaaeec ag lm hanfdti io e,isldtdihn snoao a6rc e tvhnmtdcinhaotl fwilo a ri l

otsanneEroerd02u nc osi ef dehuettnlpt oo-ac"oneh . rnldijyc sfM cftiwe t.#e aloaeee8.ifbiei#larurciiuhdyphinoi h>etrreogn7lc=oxafv6s,fTe1e ef sdii s&hght6hewiTs c lnhbaigbof p r2eesn2w e0arr0 s,ae oe fs f02 dtaot rossyn -t rhn8swts1rU o nubup vmcaietse ltre ui /eo .a te; " fhdse: sio ltlf,Fo