March 16, 2017 / 2:28 PM / in 5 months

BUZZ-Intrepid Potash Inc: Drops on stock offering

** Intrepid Potash shares down >15 pct to 4-month low in light trading premarket as co gets set to price its follow-on launched after the bell on Weds

** Potash producer announced public offering to partially repay outstanding debt under its senior notes and for general corp purposes; size not disclosed

** Sources say co marketing deal size of $40 mln; Intrepid's market value is about $110 mln

** CEO is among insiders buying up to 30 pct of deal stock, per offering prospectus

** As of Mar 14, Intrepid had in aggregate approx $130 mln outstanding principal amounts due across its senior notes due 2020, 2023 and 2025

** Cantor Fitzgerald is offering's sole bookrunner; Intrepid hired the investment bank in Dec to assist in assessing potential strategic alternatives, including sale of the co or its assets

** IPI closed on Weds at $1.42. Stock has lost a third of its value over past three months

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