DALLAS, Sept. 4, 2014 /PRNewswire/ -- Summit
Midstream Partners, LP (NYSE: SMLP) today announced the pricing of
an underwritten public offering of 4,347,826 common units
representing limited partner interests owned by Summit Midstream
Partners Holdings, LLC ("SMP Holdings"), a wholly owned direct
subsidiary of SMLP's sponsor, Summit Midstream Partners, LLC, at a
public offering price of $53.88 per
common unit. The offering was upsized from the previously
announced public offering of 4,000,000 common units. SMP
Holdings has granted the underwriters a 30-day option to purchase
up to 652,174 additional common units at the public offering price,
less the underwriting discount. The offering is scheduled to
close on September 9, 2014, subject
to customary closing conditions.
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SMLP will not receive any of the net proceeds from this offering
and the number of SMLP's outstanding common units will remain
unchanged. The common units are being offered and will be
sold pursuant to an effective shelf registration statement on Form
S-3 previously filed with the Securities and Exchange Commission
(the "SEC").
BofA Merrill Lynch, Barclays, Citigroup, Morgan Stanley,
Baird, Credit Suisse, Deutsche
Bank Securities, RBC Capital Markets, and Wells Fargo Securities
are acting as joint book-running managers for the offering.
BB&T Capital Markets and U.S. Capital Advisors are acting as
co-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 SEC's website at www.sec.gov or from
the underwriters of the offering as follows:
BofA Merrill
Lynch
222
Broadway
New York, NY
10038
Attn: Prospectus
Department
email dg.prospectus
requests@baml.com
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Barclays
c/o Broadridge
Financial Solutions
1155 Long Island
Avenue
Edgewood, NY
11717
Phone: (888)
603-5847
barclaysprospectus@broadridge.com
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Citigroup
c/o Broadridge
Financial Solutions
1155 Long Island
Avenue
Edgewood, New York
11717
Phone: (800)
831-9146
prospectus@citi.com
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Morgan
Stanley
Attn: Prospectus
Department
180 Varick Street,
2nd Floor
New York, NY
10014
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Baird
Attn: Syndicate
Dept.
777 E. Wisconsin
Ave.
Milwaukee, WI
53202
Phone: (800)
792-2473
syndicate@rwbaird.com
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Credit
Suisse
Attn: Prospectus
Department
Eleven Madison
Avenue, Level 1B
New York, New York
10010
Phone: (800)
221-1037
newyork.prospectus@credit-suisse.com
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Deutsche Bank
Securities
Attn: Prospectus
Group
60 Wall
Street
New York, NY
10005-2836
Phone: (800)
503-4611
prospectus.cpdg@db.com
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RBC Capital
Markets
Attn: Equity
Syndicate
Three World Financial
Center
200 Vesey Street, 8th
Floor
New York, New York
10281-8098
Phone: (877)
822-4089
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Wells Fargo
Securities
Attn: Equity
Syndicate Dept.
375 Park
Avenue
New York, New York
10152
Phone: (800)
326-5897
cmclientsupport@wellsfargo.com
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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 processing services pursuant to long-term, primarily
fee-based natural gas gathering and processing 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 and eastern
Utah. SMLP owns and operates more than 2,300 miles of
pipeline and approximately 240,000 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 SMLP's
actual results in future periods to differ materially from
anticipated or projected results. An extensive list of
specific material risks and uncertainties affecting SMLP is
contained in its 2013 Annual Report on Form 10-K as updated and
superseded by our Current Report on Form 8-K filed with the
Securities and Exchange Commission on July
3, 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