DALLAS, March 10, 2014 /PRNewswire/ -- Summit Midstream
Partners, LP (NYSE: SMLP) today announced that it has commenced an
underwritten public offering of 8,000,000 common units representing
limited partner interests in SMLP, of which 5,300,000 common units
are being offered by SMLP and 2,700,000 common units are being
offered by Summit Midstream Partners Holdings, LLC ("SMP
Holdings"), pursuant to an effective shelf registration statement
on Form S-3 previously filed with the Securities and Exchange
Commission (the "SEC"). The underwriters will be granted a
30-day option to purchase up to an additional 1,200,000 common
units from SMP Holdings.
SMLP intends to use the net proceeds from this offering to fund
a portion of the purchase price of its pending acquisition of all
of the issued and outstanding membership interests in Red Rock
Gathering Company, LLC ("Red
Rock"). SMLP will not receive any proceeds from the
common units sold by SMP Holdings.
Barclays, BofA Merrill Lynch, Morgan Stanley, Deutsche Bank
Securities, RBC Capital Markets, Citigroup, Goldman, Sachs &
Co., and Wells Fargo Securities are acting as joint book-running
managers for the offering.
When available, copies of the prospectus supplement and
accompanying base prospectus relating to the offering may be
obtained free of charge on the Securities and Exchange Commission's
website at www.sec.gov or from the underwriters of the offering as
follows:
Barclays
c/o Broadridge
Financial Solutions
1155 Long Island
Avenue
Edgewood, NY
11717
(888)
603-5847
barclaysprospectus@broadridge.com
|
BofA Merrill
Lynch
222 Broadway, New
York, NY 10038
Attn: Prospectus
Department
email
dg.prospectus_requests@baml.com
|
Morgan
Stanley
Attn: Prospectus
Department
180 Varick Street,
2nd Floor
New York, NY
10014
(866)
718-1649
prospectus@morganstanley.com
|
Deutsche Bank
Securities
Attn: Prospectus
Group
60 Wall
Street
New York, NY
10005-2836
(800)
503-4611
prospectus.cpdg@db.com
|
RBC Capital
Markets
Attn: Equity
Syndicate
Three World Financial
Center
200 Vesey Street, 8th
Floor
New York, New York
10281-8098
(877)
822-4089
|
Citigroup
c/o Broadridge
Financial Solutions
1155 Long Island
Avenue
Edgewood, New York
11717
Phone: (800)
831-9146
batprospectusdept@citi.com
|
Goldman, Sachs &
Co.
Attention: Prospectus
Department
200 West
Street
New York, NY
10282
(866)
471-2526
prospectus-ny@ny.email.gs.com
|
Wells Fargo
Securities
Attn: Equity
Syndicate Dept.
375 Park
Avenue
New York, New York
10152
Phone: (800)
326-5897
cmclientsupport@wellsfargo.com
|
The common units are being offered and will be sold pursuant to
an effective shelf registration statement that was previously filed
with the Securities and Exchange Commission. This press
release shall 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 an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. The offering may be made only by means of a
prospectus and related prospectus supplement.
About Summit Midstream Partners, LP
SMLP is a growth-oriented limited partnership focused on
developing, owning and operating midstream energy infrastructure
assets that are strategically located in the core producing areas
of unconventional resource basins, primarily shale formations, in
North America. SMLP currently provides natural gas gathering,
treating and compression services pursuant to long-term, primarily
fee-based natural gas gathering agreements with our customers and
counterparties in four unconventional resource basins: (i) the
Appalachian Basin, which includes the Marcellus Shale formation in
northern West Virginia; (ii) the
Williston Basin, which includes
the Bakken and Three Forks shale formations in northwestern
North Dakota; (iii) the
Fort Worth Basin, which includes
the Barnett Shale formation in north-central Texas; and (iv) the Piceance Basin, which
includes the Mesaverde formation as well as the Mancos and Niobrara shale formations in
western Colorado. SMLP owns and operates 804 miles of
pipeline and 182,460 horsepower of compression. SMLP is
headquartered in Dallas, TX with
regional corporate offices in Houston,
TX, Denver, CO and
Atlanta, GA.
Forward-Looking Statements
This press release includes certain statements concerning
expectations for the future that are forward-looking within the
meaning of the federal securities laws. Forward-looking statements
contain known and unknown risks and uncertainties (many of which
are difficult to predict and beyond management's control) that may
cause our actual results in future periods to differ materially
from anticipated or projected results. An extensive list of
specific material risks and uncertainties affecting us is contained
in our 2013 Annual Report on Form 10-K filed with the Securities
and Exchange Commission on March 10,
2014 and as amended and updated from time to time. Any
forward-looking statements in this press release are made as of the
date of this press release and SMLP undertakes no obligation to
update or revise any forward-looking statements to reflect new
information or events.
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SOURCE Summit Midstream Partners, LP