THE WOODLANDS, Texas,
Jan. 30, 2017 /PRNewswire/
-- Summit Midstream Partners, LP (NYSE: SMLP) today announced
the pricing of an underwritten offering of 4,000,000 common units
representing limited partner interests in SMLP 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 $24.00 per common unit. SMP Holdings has granted
the underwriter a 30-day option to purchase up to 600,000
additional common units at the public offering price, less the
underwriting discount. The offering is scheduled to close on
February 3, 2017, subject to
customary closing conditions.
SMLP will not receive any of the net proceeds from this offering
and the number of SMLP's outstanding common units will remain
unchanged.
Barclays Capital Inc. is acting as the sole bookrunning
manager 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 underwriter of the offering as
follows:
Barclays Capital Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
(888) 603-5847
barclaysprospectus@broadridge.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 the continental
United States. SMLP provides
natural gas, crude oil and produced water gathering services
pursuant to primarily long-term and fee-based gathering and
processing agreements with customers and counterparties in five
unconventional resource basins: (i) the Appalachian Basin, which
includes the Marcellus and Utica
shale formations in West Virginia
and Ohio; (ii) the Williston Basin, which includes the Bakken and
Three Forks shale formations in North
Dakota; (iii) the Piceance Basin, which includes the
Mesaverde formation as well as the Mancos and Niobrara shale formations in Colorado and Utah, (iv) the Denver-Julesburg Basin, which
includes the Niobrara and Codell
shale formations in Colorado and
Wyoming; and (v) the Fort Worth Basin, which includes the Barnett
Shale formation in Texas. SMLP also owns substantially all of
a 40% ownership interest in Ohio Gathering, which is developing
natural gas gathering and condensate stabilization infrastructure
in the Utica Shale in Ohio. 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
2015 Annual Report on Form 10-K as updated and superseded by the
Current Report on Form 8-K/A filed with the Securities and Exchange
Commission on September 1, 2016, 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