LXU
#As you probably know, we've worked with CS on multiple occasions over the last two years, and so we did work with CS and there was a process that was run.
We did have a number of people that were interested.
I think we ran an efficient process to try and figure out what were the best terms for us.
Ultimately, we decided that these were the most appropriate terms that management and the Board were comfortable with.
And we were extremely comfortable, as <UNK> said, with Security Benefit as a partner.
If there was someone willing to do it, we would have done it.
Look, they had a combination of about three things.
Number one, they came with a total financing package, which in our mind and the Board's mind was an important component.
Then they put the two components together with us that we thought served as a good basis, either individually or in the aggregate, they were very competitive.
We did that.
We went out and we looked at, as <UNK> said, Credit Suisse, went out and helped us look at multiple different sources.
Number one, the total package was the best total package and that was something that we were looking for.
And it, quite frankly, came late in the process but it was a good package.
That was number one.
Number two, they believe in the opportunity and value creation for the Company and that was attractive to them, so they showed a strong interest in wanting to participate.
Number three, we look at them as long-term focused partners.
And during the process of their due diligence they visited every single location and had discussions with plant management and the like.
We just felt like that that was a type of long-term financing partner that we wanted to have, and their rates were the most competitive when you look at it on a total package basis.
Well, there's nothing other out there in the form of warrants other than what we've disclosed this morning.
There are management options out there that have been issued and are outstanding, and that's outlined in our public filings.
There's nothing significant that has changed this quarter, so you'll be able to see that.
They're in the 30s.
You can look at our public filings.
They're out there available in the public filings on the most recent 10-Q.
There haven't been any material [additions] since then.
I wouldn't know off the top of my head the exact number.
Great.
Thank you, Donna.
First of all, thanks, everyone, for participating in this morning's conference call.
I think we've outlined things and tried to provide as much clarity as we can.
We're optimistic that completing the project.
The construction schedule at El Dorado is progressing very, very well.
We're pleased with the weekly progress they make.
We measure it on a weekly basis at a detailed level in every area.
We have a robust process around that.
I think the financing that we've secured is going to put us in a good position to complete that construction.
As <UNK> and I both indicated, we look to improve our capital structure cost as soon as we possibly can and we will focus on that.
Then again the Board is also focused on creating the best shareholder value for the shareholders, and that's something that we'll continue to do and something we're actually looking forward to delivering.
Once again, I appreciate your time, and have a good day.
