THE WOODLANDS, Texas, Jan. 30, 2017 /PRNewswire/ — Summit Midstream Partners, LP (NYSE: SMLP) today announced the pricing of an underwritten offering of 4,000,000 common units representing limited partner interests in SMLP owned by Summit Midstream Partners Holdings, LLC (“SMP Holdings”), a wholly owned direct subsidiary of SMLP’s sponsor, Summit Midstream Partners, LLC, at a public offering price of $24.00 per common unit. SMP Holdings has granted the underwriter a 30-day option to purchase up to 600,000 additional common units at the public offering price, less the underwriting discount. The offering is scheduled to close on February 3, 2017, subject to customary closing conditions.
SMLP will not receive any of the net proceeds from this offering and the number of SMLP’s outstanding common units will remain unchanged.
Barclays Capital Inc. is acting as the sole bookrunning manager for the offering.
When available, copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained free of charge on the Securities and Exchange Commission’s website at www.sec.gov or from the underwriter of the offering as follows:
Barclays Capital Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
The common units are being offered and will be sold pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.