Inergy Midstream (NRGM) Announces IPO Launch of 16 Million Shares
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Inergy Midstream, L.P. (NYSE: NRGM) a Delaware limited partnership (“Inergy Midstream”), announced today that it has commenced an underwritten initial public offering of 16,000,000 of its common units representing limited partner interests pursuant to a registration statement on Form S-1 filed with the Securities and Exchange Commission (the “SEC”). The underwriters will be granted a 30-day over-allotment option to purchase up to an additional 2,400,000 common units. The common units will be listed on the New York Stock Exchange and traded under the symbol “NRGM.”
Inergy Midstream was formed by Inergy, L.P. (NYSE: NRGY) to own, operate, develop and acquire midstream energy assets. The common units being offered to the public represent an approximate 21.5% limited partner interest in Inergy Midstream, or an approximate 24.8% limited partner interest if the underwriters exercise their over-allotment option in full. Inergy, L.P. will own the remaining limited partner interest in Inergy Midstream.
Morgan Stanley, Barclays Capital, BofA Merrill Lynch, Credit Suisse and Wells Fargo Securities are acting as joint book-running managers for the offering. J.P. Morgan, RBC Capital Markets, Robert W. Baird & Co., Morgan Keegan and Stifel Nicolaus Weisel, are acting as co-managers for the offering.
Inergy Midstream was formed by Inergy, L.P. (NYSE: NRGY) to own, operate, develop and acquire midstream energy assets. The common units being offered to the public represent an approximate 21.5% limited partner interest in Inergy Midstream, or an approximate 24.8% limited partner interest if the underwriters exercise their over-allotment option in full. Inergy, L.P. will own the remaining limited partner interest in Inergy Midstream.
Morgan Stanley, Barclays Capital, BofA Merrill Lynch, Credit Suisse and Wells Fargo Securities are acting as joint book-running managers for the offering. J.P. Morgan, RBC Capital Markets, Robert W. Baird & Co., Morgan Keegan and Stifel Nicolaus Weisel, are acting as co-managers for the offering.
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