CVR Energy enters Icahn tender offer at $18.25, prices $325M Term Loan B, extends CEO Lamp contract

CVR ENERGY INC

Icahn Enterprises to tender for up to 17.75M shares at $18.25/sh; currently owns ~66.3% of CVI.
Subsidiaries priced $325M Term Loan B due 2027 at 99% of face, SOFR+4%; closing expected by year-end.
CEO Dave Lamp signs new employment agreement: base salary $1.2M (up from $1.1M), expires Dec 2026, severance up to $3M.
2025 capex outlook: total $165–$205M; separate turnaround spending $170–$190M, mostly Coffeyville Q1 2025.
Company in negotiations for potential sale of midstream interest for <$100M to further enhance liquidity.

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