EV Energy Partners (EVEP) Prices 3M Common Unit Offering at $28.08/Unit
EV Energy Partners, L.P. (NASDAQ: EVEP) today announced that its public offering of 3,000,000 common units was priced at $28.08 per unit to the public. The Partnership expects the delivery to occur on February 12, 2010. In addition, the underwriters have an over-allotment option to purchase up to 450,000 common units.
Assuming no exercise of the over-allotment option, the Partnership expects to receive net proceeds from the offering of approximately $82.2 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, to fund part of the purchase price of the recently announced Appalachian acquisition, which is expected to close by March 31, 2010. Pending the use of the proceeds for funding the closing of the Appalachian acquisition (or should such acquisition not be completed, potential future acquisitions), the Partnership intends to use the proceeds to repay indebtedness under its existing revolving credit facility.
RBC Capital Markets, Citi, Raymond James and Wells Fargo Securities acted as joint book-running managers for the offering.
Create E-mail AlertRelated Categories
Equity OfferingsStocks Mentioned
+1.19Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
