Hi-Crush Partners (HCLP) Prices 6.5M Units Offering for Proceeds of ~$80.3M
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Hi-Crush Partners LP (NYSE: HCLP) announced that it has priced a primary public offering of 6,500,000 units representing limited partnership interests in the Partnership (the "common units") for total gross proceeds (before underwriters' compensation and estimated expenses) of approximately $80.3 million. In connection with the offering, the Partnership granted the underwriters a 30-day option to purchase up to an additional 975,000 common units on the same terms. The underwriters intend to offer the common units to be sold in the offering from time to time for sale in one or more transactions on the NYSE, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by them and subject to their right to reject any order in whole or in part. The Partnership intends to use the net proceeds from this offering to fund a portion of the purchase price of the previously announced acquisition of Hi-Crush Blair LLC.
Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, J.P. Morgan and UBS Investment Bank are acting as joint book-running managers for the offering.
The offering is being made pursuant to an effective shelf registration statement of the Partnership previously filed with the Securities and Exchange Commission (the "SEC"). The offering may be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the prospectus supplement for the offering and the accompanying prospectus may be obtained by sending a request to: Credit Suisse Securities (USA) LLC, Prospectus Department (1-800-221-1037), One Madison Avenue, New York, New York 10010 or by email at email@example.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Post-Sale Fulfillment or by email at firstname.lastname@example.org; or UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, telephone: (888) 827-7275.
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