Oxford Resource Partners, L.P., which produces steam coal in Northern Appalachia and the Illinois Basin, lowered the proposed deal size for its upcoming IPO on Friday. The Coshocton, OH-based company now plans to raise $166 million by offering 8.75 million units at a price range of $18-$20 after originally filing a range of $19-$21. At the mid-point of the revised range, Oxford Resource Partners will raise -5% fewer proceeds than previously anticipated. The company, which was founded in 1985 and booked $357 million in sales last year, plans to list on the NYSE under the symbol OXF. Barclays Capital and Citi are the lead underwriters on the deal, for which timing was not disclosed.
