HOUSTON, Oct. 6, 2014 /PRNewswire/ -- Natural
Resource Partners L.P. (NYSE: NRP) announced today that it has
priced an underwritten public offering of 8,500,000 common units
representing limited partner interests in Natural Resource Partners
L.P. at $12.02 per common unit in an
offering registered under the Securities Act of 1933, as
amended. Corbin J. Robertson,
Jr., NRP's Chairman and Chief Executive Officer, and certain
members of his family and his and their affiliates are expected to
purchase up to a total of 1,039,933 common units in the offering,
and the underwriters will receive no discount or commission on
any common units purchased by them. In connection with
the offering, Natural Resource Partners L.P. granted the
underwriters a 30-day option to purchase up to 1,275,000 additional
common units. Natural Resource Partners L.P. intends to use
the net proceeds of approximately $100.7
million from this offering, including its general partner's
proportionate capital contribution, to fund a portion of the
purchase price of the pending acquisition of non-operated working
interests in oil and gas assets located in the Bakken/Three Forks
play from an affiliate of Kaiser-Francis Oil Company.
![Natural Resource Partners LP logo. Natural Resource Partners LP logo.](http://photos.prnewswire.com/prnvar/20060109/NRPLOGO)
Citigroup, Wells Fargo Securities, BofA Merrill Lynch and UBS
Investment Bank are acting as joint book-running managers and
Stifel and BB&T Capital Markets are acting as co-managers
of the offering.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. The common units
were offered and sold pursuant to an effective registration
statement on Form S-3, as amended, previously filed with the
Securities and Exchange Commission (the "SEC"). This offering may
be made only by means of a prospectus supplement and accompanying
base prospectus, which will be filed with the SEC.
When available, copies of the prospectus supplement and the
accompanying prospectus related to this offering may be obtained
from the following addresses:
Citigroup
c/o Broadridge
Financial Solutions
1155 Long Island
Avenue
Edgewood, NY
11717
Telephone: (800)
831-9146
Email:
prospectus@citi.com
|
Wells Fargo
Securities
Attn: Equity
Syndicate Dept.
375 Park
Avenue
New York, NY
10152
Telephone:
(800) 326-5897
Email:
cmclientsupport@wellsfargo.com
|
Company Profile
Natural Resource Partners L.P. ("NRP")
is a master limited partnership headquartered in Houston, TX. NRP is a diversified
natural resource company that owns interests in oil and gas, coal,
aggregates and industrial minerals across the United
States. A large percentage of NRP's revenues are generated
from royalties and other passive income. In addition, NRP
owns an equity investment in OCI Wyoming, a trona/soda ash
operation, owns non-operated working interests in oil and gas
properties and owns VantaCore, making NRP ranked as one of the top
25 aggregates producers in the United
States.
For additional information, please contact Kathy H. Roberts at 713-751-7555 or
kroberts@nrplp.com. Further information about NRP is available on
the partnership's website at http://www.nrplp.com.
Forward-Looking Statements
This press release
includes "forward-looking statements" as defined by the Securities
and Exchange Commission. All statements, other than statements of
historical facts, included in this press release that address
activities, events or developments that the partnership expects,
believes or anticipates will or may occur in the future are
forward-looking statements. These statements are based on certain
assumptions made by the partnership based on its experience and
perception of historical trends, current conditions, expected
future developments and other factors it believes are appropriate
in the circumstances. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of the partnership. These risks include, but are not
limited to, decreases in demand for coal, oil and gas, and
aggregates and industrial minerals, including trona/soda ash;
changes in operating conditions and costs; production cuts by our
lessees; commodity prices; unanticipated geologic problems; changes
in the legislative or regulatory environment and other factors
detailed in Natural Resource Partners L.P.'s Securities and
Exchange Commission filings. Natural Resource Partners L.P. has no
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
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SOURCE Natural Resource Partners L.P.