August 18, 2017 - Peabody Energy Corporation (NYSE: BTU) announced today that the underwritten secondary offering of 12,800,000 shares of Peabody's common stock by certain of its existing stockholders affiliated with Discovery Capital Management, LLC (the "selling stockholders") has been priced.  Peabody has agreed to repurchase from the underwriter a number of these shares having an aggregate value of approximately $40 million.

The selling stockholders will receive all of the net proceeds from the offering. Peabody is not offering any shares of common stock in the offering and will not receive any proceeds from the sale of shares in the offering. In addition, none of Peabody's officers or directors are selling any shares of common stock beneficially owned by them in the offering. The shares of common stock being offered were previously issued by Peabody in connection with its emergence from Chapter 11 on April 3, 2017 and subsequent conversions of preferred stock.

Peabody's per-share purchase price for the repurchased shares will be the same as the per-share purchase price payable by the underwriter to the selling stockholders. Peabody expects to fund the share repurchase with cash on hand. The share repurchase is subject to completion of the offering.  The share repurchase will be made pursuant to, and would count toward, Peabody's existing share repurchase program. 

The offering and share repurchase are expected to close on August 23, 2017, subject to the satisfaction of customary closing conditions.

Credit Suisse is acting as the sole underwriter of the offering. The offering is being made pursuant to an effective registration statement on Form S-1, as amended. The offering is being made only by means of a prospectus and related prospectus supplement, copies of which may be obtained on the website of the Securities and Exchange Commission, www.sec.gov, or, when available, from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York, 10010, or by email at newyork.prospectus@credit-suisse.com or by telephone at 1-800-221-1037.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Peabody is the world's largest private-sector coal company. Peabody serves metallurgical and thermal coal customers in more than 25 countries on five continents.