Landmark Infrastructure Partners (LMRK) Prices 3M Common Units Offering for Proceeds of ~$48.9M

October 14, 2016 10:06 AM EDT

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Landmark Infrastructure Partners LP (Nasdaq: LMRK) announced that it has priced its underwritten public offering of 3,000,000 common units representing limited partner interests in the Partnership (“Common Units”) at a public offering price of $16.30 per Common Unit. The underwriters have a 30-day option to purchase up to 450,000 additional Common Units. The offering is expected to close on or about October 19, 2016, subject to customary closing conditions.

The Partnership expects to receive net proceeds of approximately $46.3 million (or approximately $53.3 million if the underwriters exercise in full their option to purchase an additional 450,000 Common Units) and intends to use the net proceeds from the offering to fund a portion of the purchase price for the previously announced acquisition by the Partnership of 100% of the equity interests in certain entities that own approximately 4,000 acres of land in California from Recurrent Energy Landco LLC, a subsidiary of Canadian Solar Inc. (the “Recurrent Transaction”). Until the Partnership applies the net proceeds for the purposes described above, it may repay indebtedness under its revolving credit facility or invest the proceeds in short-term liquid investments. If the Recurrent Transaction is not consummated, then the Partnership intends to use the net proceeds to repay borrowings outstanding under its revolving credit facility.

This offering is not conditioned upon the completion of the Recurrent Transaction, and the completion of this offering is not a condition to the completion of the Recurrent Transaction.

Raymond James & Associates, Inc., RBC Capital Markets, LLC, Wells Fargo Securities, LLC and Robert W. Baird & Co. Incorporated are serving as joint book-running managers for the offering. Wunderlich Securities, Inc. and Janney Montgomery Scott LLC are serving as co-managers for the offering. Raymond James & Associates, Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC are also acting as representatives of the underwriters named above. When available, copies of the preliminary prospectus supplement, prospectus supplement and accompanying base prospectus related to the offering may be obtained free of charge on the Securities and Exchange Commission’s (“SEC”) website at or from the underwriters of the offering as follows:

Raymond James & Associates, Inc.Attn: Equity Syndicate880 Carlton ParkwaySt. Petersburg, Florida 33716Telephone: (800) 248-8863Email:

RBC Capital Markets, LLCAttn: Equity Syndicate200 Vesey St., 8th FloorNew York, New York 10281Telephone: (877) 822-4089Email:

Wells Fargo Securities, LLCAttn: Equity Syndicate Department375 Park AvenueNew York, New York 10152Telephone: (800) 326-5897Email:

Robert W. Baird & Co. IncorporatedAttention: Syndicate Department777 E. Wisconsin AvenueMilwaukee, Wisconsin 53202Telephone: (800) 792-2473Email:

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