Attached files
file | filename |
---|---|
8-K - 8-K - Intrepid Potash, Inc. | a17-14188_38k.htm |
EX-1.1 - EX-1.1 - Intrepid Potash, Inc. | a17-14188_3ex1d1.htm |
Exhibit 5.1
|
811 Main Street, Suite 3700 | |
|
Houston, TX 77002 | |
|
Tel: +1.713.546.5400 | |
|
www.lw.com | |
|
| |
FIRM / AFFILIATE OFFICES | ||
Barcelona |
Moscow | |
Beijing |
Munich | |
|
Boston |
New York |
|
Brussels |
Orange County |
|
Century City |
Paris |
|
Chicago |
Riyadh |
May 26, 2017 |
Dubai |
Rome |
|
Düsseldorf |
San Diego |
|
Frankfurt |
San Francisco |
|
Hamburg |
Seoul |
|
Hong Kong |
Shanghai |
Intrepid Potash, Inc. |
Houston |
Silicon Valley |
707 17th Street, Suite 4200 |
London |
Singapore |
Denver, Colorado 80202 |
Los Angeles |
Tokyo |
|
Madrid |
Washington, D.C. |
|
Milan |
|
Re: Registration Statement No. 333-209888
Ladies and Gentlemen:
We have acted as counsel to Intrepid Potash, Inc., a Delaware corporation (the Company), in connection with the proposed offer and sale from time to time of shares of common stock, par value $0.001 per share, of the Company, having an aggregate gross sales price of up to $40,000,000 (the Shares). The Shares are included in a registration statement on Form S-3 under the Securities Act of 1933, as amended (the Act), filed with the Securities and Exchange Commission (the Commission) on March 2, 2016 (Registration No. 333-209888) (as so filed and as amended, the Registration Statement), a base prospectus dated March 2, 2016 included in the Registration Statement (the Base Prospectus), and a prospectus supplement dated May 26, 2017 filed with the Commission pursuant to Rule 424(b) under the Act (together with the Base Prospectus, the Prospectus). This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or the Prospectus, other than as expressly stated herein with respect to the issuance of the Shares.
As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters. We are opining herein as to the General Corporation Law of the State of Delaware, and we express no opinion with respect to any other laws.
Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof, when the Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the purchaser and have been issued by the Company against payment therefor in the circumstances contemplated by the Controlled Equity
OfferingSM Sales Agreement filed as an exhibit to the Companys Current Report on Form 8-K filed with the Commission on May 26, 2017 and the Prospectus, the issue and sale of the Shares will have been duly authorized by all necessary corporate action of the Company, and the Shares will be validly issued, fully paid and nonassessable. In rendering the foregoing opinion, we have assumed that the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the General Corporation Law of the State of Delaware.
This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Companys Current Report on Form 8-K dated May 26, 2017 and to the reference to our firm contained in the Prospectus under the heading Legal Matters. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.
|
Very truly yours, |
|
|
|
/s/ Latham & Watkins LLP |