THE WOODLANDS, Texas,
May 7, 2015 /PRNewswire/ -- Summit
Midstream Partners, LP (NYSE: SMLP) today announced the pricing of
its underwritten public offering of 6,500,000 common units
representing limited partner interests in SMLP at a public offering
price of $30.75 per common
unit. The underwriters have been granted a 30-day option to
purchase up to an additional 975,000 common units, less the
underwriting discount. The offering is scheduled to close on
May 13, 2015, subject to customary
closing conditions.
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. 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 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 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