Icahn's CVR Energy drops after $500 mln stock sale for Marathon refineries deal

** Shares of Carl Icahn-controlled CVR Energy CVI.N down 1.9% at $47.69 before the bell on Weds after acquisition-related follow-on priced

** CVR late Tues announced ~10.5 mln shares at $47.55 for $500 mln gross raise

** Co said the offering does not include any shares being sold by IEP Energy Holding, an indirect subsidiary of Icahn Enterprises LP IEP.O

** CVI stock tumbled ~13% to finish at $48.60 on Tues after co commenced $750 mln offering, with $250 mln of shares to be sold by IEP Energy, to fund acquisition of 2 refineries from Marathon Petroleum MPC.N and MPLX LP MPLX.N, and redeem its 5.75% notes due 2028

** If acquisition is not completed, CVR intends to use net proceeds for general corp purposes

** Barclays and Jefferies joint bookrunners for offering

** At Tues close, CVI stock up 91% YTD