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Investor Relations

Intrepid Potash Announces Pricing of Public Offering of Common Stock

News Release

DENVER - March 16, 2017 - Intrepid Potash Inc. (NYSE: IPI) ("Intrepid") announced today that it has priced its previously announced underwritten public offering of 43,541,667 shares of its common stock. Intrepid has granted the underwriter a 30-day option to purchase up to 6,531,250 additional shares of common stock. Intrepid expects to receive total gross proceeds (before underwriting discounts and estimated offering expenses) of approximately $52.3 million, or approximately $60.1 million if the underwriter exercises its option to purchase additional shares of common stock in full. The net proceeds from this offering are to be used to partially repay indebtedness outstanding under Intrepid's senior notes and for general corporate purposes. The sale of the common stock is expected to settle on March 21, 2017, subject to the satisfaction of customary closing conditions.

Cantor Fitzgerald & Co. is acting as the sole book-running manager of this offering. The offering will be made only by means of a prospectus supplement and the accompanying base prospectus, copies of which may be obtained by contacting Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Ave., 5th Floor, New York, New York 10022, or by telephone at 212-829-7122, or by e-mail at An electronic copy of the prospectus supplement and accompanying base prospectus may also be obtained at no charge from the Securities and Exchange Commission's website at

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. The offering is being made pursuant to an effective registration statement on Form S-3 previously filed by Intrepid with the Securities and Exchange Commission dated June 3, 2016.

About Intrepid

Intrepid Potash (NYSE: IPI) is the only U.S. producer of muriate of potash.  Potash is applied as an essential nutrient for healthy crop development, utilized in several industrial applications and used as an ingredient in animal feed. Intrepid also produces a specialty fertilizer, Trio®, which delivers three key nutrients, potassium, magnesium, and sulfate, in a single particle. Intrepid's production comes from three solar solution potash facilities and one conventional underground Trio® mine.

FORWARD-LOOKING STATEMENTS.  This release includes forward-looking statements within the meaning of Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended.  These forward-looking statements include statements regarding the timing and size of the proposed offering and the use of proceeds from the common stock offering, among other things.  Actual results may differ materially from those included in the forward-looking statements due to a number of factors, including, but not limited to: changes in the price, demand or supply of potash or Trio®; declines or changes in agricultural production or fertilizer application rates, circumstances that disrupt or limit Intrepid's production, including operation difficulties or variances, geological or geotechnical variances, equipment failures, environmental hazards and other unexpected events; changes in government regulations; adverse weather conditions; and other risks discussed in Intrepid's periodic filings with the Securities and Exchange Commission, including the Risk Factors section of Intrepid's Annual Report on Form 10-K for the year ended December 31, 2016 and in the preliminary prospectus supplement related to the offering filed with the Securities and Exchange Commission on March 15, 2017.  Intrepid undertakes no obligation to publicly correct or update the forward-looking statements.  All such statements are expressly qualified by this cautionary statement.


Brian Frantz, Senior Vice President and Chief Accounting Officer
Phone:  303-996-3023