Seal Beach-based Clean Energy Fuels Corp. intends to sell six million shares of its common stock in a public offering. The public offering price has not yet been determined, however the company expects to grant underwriters to buy an additional discounted 900,000 shares of its common stock within thirty days from the day of the final prospectus for the offer.

Clean Energy is the leading provider of natural gas (CNG and LNG) for transportation in North America, with a vast customer base in the refuse, transit, ports, shuttle, taxi, trucking, airport and municipal fleet markets. The company’s shares were down more than 10 percent soon after the announcement, giving it a market value of close to $400 million.

According to the company, the money from the sale will be used for working capital and for other general corporate purposes, which would include construction of a fuel station, an investment in its LNG plants and biomethane production plants and future acquisitions of natural gas fueling infrastructure, vehicle or services businesses and biomethane production assets.

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