THE WOODLANDS, Texas,
May 28, 2015 /PRNewswire/
-- Summit Midstream Partners, LP (NYSE: SMLP) announced today
that the underwriters of its previously announced public offering
of 6,500,000 common units, which closed on May 13, 2015, have exercised and closed their
option to purchase an additional 975,000 common units.
The total net proceeds from the offering of an aggregate of
7,475,000 common units, after deducting underwriting and other
fees, will be approximately $226.9
million, including the general partner's proportionate
capital contribution of approximately $4.7
million. SMLP used the net proceeds from the
previously announced offering to fund a portion of the purchase
price of its recently announced acquisition of all of the issued
and outstanding membership interests in Polar Midstream, LLC and
Epping Transmission Company, LLC. SMLP will use the proceeds
from the underwriters' purchase of the additional 975,000 common
units for general partnership purposes, including the repayment of
debt.
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.
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
|
|
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