Clean Energy Fuels Corp (NASDAQ:CLNE) announced that it issued 14.0 million shares of common stock and paid an aggregate of $37.9 million in cash, plus $0.2 million for accrued and unpaid interest, in exchange for all of its outstanding 7.5% Convertible Notes due in August 2016 (the “2016 Notes”), which totaled $85.2 million in principal and accrued and unpaid interest. No amounts remain due and owing under the 2016 Notes and all 2016 Notes have been terminated and cancelled in full.

Clean Energy had approximately $182.0 million in cash and short-term investments as of June 30, 2016.

“We have achieved several significant milestones in the last six months, including retiring all the 2016 Notes, repurchasing over $65 million of the 5.25% Convertible Notes due 2018, cutting capital expenditures and reporting improved financial results,” said Andrew J. Littlefair, president and CEO of Clean Energy. “We completed the build-out of the initial phase of our America’s Natural Gas Highway and will continue to focus on leveraging our existing infrastructure with new customers and expanding with our existing customers. I’m proud that the Clean Energy team has been able to accomplish so much despite the competitive environment of low oil prices the last few years. I remain optimistic about the future as more and more fleets are realizing the environmental and cost benefits of natural gas fuel.”

Clean Energy has North America’s most robust network of natural gas fueling with over 550 public and private stations including 212 compressed natural gas (CNG) and liquefied natural gas (LNG) public stations that make up its America’s Natural Gas Highway for heavy duty trucks. The company anticipates completing over 60 additional station projects before the end of the year. (Original Source)

Shares of Clean Energy Fuels closed yesterday at $3.55, down $0.02 or -0.56%. CLNE has a 1-year high of $6.54 and a 1-year low of $2.15. The stock’s 50-day moving average is $3.43 and its 200-day moving average is $3.04.

Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets in the United States and Canada, based on the number of stations operated and the amount of gasoline gallon equivalents of compressed natural gas, or CNG, and liquefied natural gas, or LNG, delivered. It engages in the designing, building, operates and maintains fueling stations and supply its customers with CNG fuel for light, medium and heavy-duty vehicles and LNG fuel for medium and heavy-duty vehicles. The company also sells non-lubricated natural gas compressors and related equipment used in CNG stations and LNG stations, convert light and medium duty vehicles to run on natural gas, and produce renewable natural gas, or RNG, which can be used as vehicle fuel or sold for power generation. It serves fleet vehicle operators in a variety of markets, including trucking, airports and taxis, refuse hauling and public transit.