THE WOODLANDS, Texas,
May 6, 2015 /PRNewswire/
-- Summit Midstream Partners, LP (NYSE: SMLP) today announced
that it has commenced an underwritten public offering of 6,500,000
common units representing limited partner interests in SMLP
pursuant to an effective shelf registration statement on Form S-3
previously filed with the Securities and Exchange Commission.
The underwriters will be granted a 30-day option to purchase up to
an additional 975,000 common units.
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 Polar
Midstream, LLC and Epping Transmission Company, LLC (the
"Acquisition"). If the Acquisition is not consummated for any
reason, SMLP intends to use the net proceeds from the offering for
general partnership purposes, including the repayment of borrowings
under its revolving credit facility.
Barclays, BofA Merrill Lynch, Goldman, Sachs & Co., Morgan
Stanley, Wells Fargo Securities, Baird, Citigroup, Deutsche Bank Securities and
RBC Capital Markets 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
|
Goldman, Sachs &
Co.
Attention: Prospectus
Department
200 West
Street
New York, NY
10282
(866)
471-2526
prospectus-ny@ny.email.gs.com
|
Morgan
Stanley
Attn: Prospectus
Department
180 Varick Street,
2nd Floor
New York, NY
10014
|
Wells Fargo
Securities
Attn: Equity
Syndicate Dept.
375 Park
Avenue
New York, New York
10152
Phone: (800)
326-5897
cmclientsupport@wellsfargo.com
|
Baird
Attn: Syndicate
Dept.
777 E. Wisconsin
Ave.
Milwaukee, WI
53202
Phone: (800)
792-2473
syndicate@rwbaird.com
|
Citigroup
c/o Broadridge
Financial Solutions
1155 Long Island
Avenue
Edgewood, New York
11717
Phone: (800)
831-9146
batprospectusdept@citi.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
equityprospectus@rbccm.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 meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended.
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 primarily long-term and fee-based natural gas gathering
and processing agreements with 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 over 250,000 horsepower of
compression. SMLP is headquartered in The
Woodlands, Texas with regional corporate offices in
Denver, Colorado and Atlanta, Georgia.
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 2014 Annual Report on Form 10-K filed with the
Securities and Exchange Commission on March
2, 2015 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