Crosstex Energy, L.P. (XTEX) Announces 7.5M Share Offering

January 8, 2013 4:11 PM EST
Crosstex Energy, L.P. (NASDAQ: XTEX) today announced the commencement of an underwritten public offering of 7,500,000 common units representing limited partner interests of the Partnership. The Partnership will also grant the underwriters a 30-day option to purchase up to 1,125,000 additional common units. Wells Fargo Securities, BofA Merrill Lynch, Citigroup, Morgan Stanley and RBC Capital Markets will act as joint book-running managers for the public offering.

Concurrent with the public offering, the Partnership intends to offer 2,700,000 common units to certain funds affiliated with Magnetar Capital in a privately negotiated transaction.

The Partnership intends to use the net proceeds from these issuances, including any net proceeds from the underwriters’ exercise of their option pursuant to the public offering, for capital expenditures for currently identified projects, including the Cajun-Sibon natural gas liquids pipeline expansion, and for general partnership purposes.

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