EV Energy Partners (EVEP) Prices 3.5 Million Unit Offering at $67.95/Unit
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EV Energy Partners, L.P. (NASDAQ: EVEP) today announced that its public offering of 3,500,000 common units was priced at $67.95 per unit to the public. The Partnership expects the delivery to occur on February 15, 2012. In addition, the underwriters have an over-allotment option to purchase up to 525,000 common units. The offering was upsized to 3,500,000 common units from the original offering size of 3,200,000 common units.
Assuming no exercise of the over-allotment option, the Partnership expects to receive net proceeds from the offering of approximately $233 million, after deducting the underwriting discounts and commissions and estimated offering expenses, and including the Partnership's general partner's proportionate capital contribution.
The Partnership intends to use the net proceeds from the offering, including the proceeds from any exercise of the over-allotment option of common units, to repay indebtedness under its existing revolving credit facility.
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Assuming no exercise of the over-allotment option, the Partnership expects to receive net proceeds from the offering of approximately $233 million, after deducting the underwriting discounts and commissions and estimated offering expenses, and including the Partnership's general partner's proportionate capital contribution.
The Partnership intends to use the net proceeds from the offering, including the proceeds from any exercise of the over-allotment option of common units, to repay indebtedness under its existing revolving credit facility.
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