USA Compression Announces Pricing of Public Offering of Common Units
December 08 2016 - 8:12PM
Business Wire
USA Compression Partners, LP (NYSE: USAC) (the “Partnership”),
announced today the pricing of an underwritten public offering of
4,500,000 common units representing limited partner interests in
the Partnership (“common units”) at a public offering price of
$16.25 per common unit. The underwriters have been granted a 30-day
option to purchase up to an additional 675,000 common units from
the Partnership at the public offering price less the underwriting
discount. The offering is scheduled to close on December 14, 2016,
subject to customary closing conditions.
The Partnership intends to use the net proceeds from the
offering, after discounts, commissions and offering expenses, to
reduce indebtedness outstanding under its revolving credit facility
and for general partnership purposes.
J.P. Morgan, UBS Investment Bank and Wells Fargo Securities are
acting as joint book-running managers for the offering. Raymond
James, RBC Capital Markets, Ladenburg Thalmann and MUFG are acting
as co-managers for the offering.
The offering of these securities is being made only by means of
the prospectus supplement and accompanying base prospectus as filed
with the Securities and Exchange Commission (the “SEC”). Copies of
the prospectus supplement and accompanying base prospectus relating
to the offering may be obtained free of charge on the SEC’s website
at www.sec.gov under the Partnership’s name or from the
underwriters of the offering as follows:
J.P. Morgan UBS Investment Bank
c/o Broadridge Financial Solutions Attn: Prospectus Department 1155
Long Island Avenue 1285 Avenue of the Americas Edgewood, New York,
11717 New York, New York 10019 (866) 803-9204 (888) 827-7275
prospectus-eq_fi@jpmchase.com
Wells Fargo Securities Attn: Equity Syndicate Dept. 375 Park
Avenue New York, New York 10152
cmclientsupport@wellsfargo.com
(800) 326-5897
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described above, 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 registration or qualification under the
securities laws of such state or jurisdiction. The offer is being
made only through the prospectus as supplemented, which is part of
an effective registration statement on Form S-3 previously filed by
the Partnership with the SEC.
ABOUT USA COMPRESSION PARTNERS, LP
USA Compression Partners, LP is a growth-oriented Delaware
limited partnership that is one of the nation’s largest independent
providers of compression services in terms of total compression
fleet horsepower. The Partnership partners with a broad customer
base composed of producers, processors, gatherers and transporters
of natural gas and crude oil. The Partnership focuses on providing
compression services to infrastructure applications primarily in
high volume gathering systems, processing facilities and
transportation applications.
FORWARD-LOOKING STATEMENTS
Statements in this press release may be forward-looking
statements as defined under federal law, including those related to
the Partnership’s potential securities offering. These
forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of
uncertainties and factors, many of which are outside the control of
the Partnership, and a variety of risks that could cause results to
differ materially from those expected by management of the
Partnership. The Partnership undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions,
the occurrence of unanticipated events or changes to future
operating results over time. You are cautioned not to place undue
reliance on any forward-looking statements, which speak only as of
the date of this press release. Known material factors that could
cause the Partnership’s actual results to differ materially from
the results contemplated by such forward-looking statements are
described in the prospectus as supplemented, which is a part of the
Registration Statement, Part I, Item 1A (“Risk Factors”) of the
Partnership’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2015, which was filed with the Securities and Exchange
Commission on February 11, 2016, and Part II, Item 1A (“Risk
Factors”) of the Partnership’s Quarterly Report on Form 10-Q for
the quarter ended June 30, 2016, which was filed with the
Securities and Exchange Commission on August 4, 2016. You should
also understand that it is not possible to predict or identify all
such factors and you should not consider these factors to be a
complete statement of all potential risks and uncertainties.
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USA Compression Partners, LPMatthew C. Liuzzi, 512-473-2662Vice
President, Chief Financial Officer and
Treasurerir@usacompression.com
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