HOUSTON–(BUSINESS WIRE)–Noble Midstream Partners LP (NYSE:NBLX) (“Noble Midstream” or the “Partnership”) today announced it has priced its previously announced underwritten public offering of 3,200,000 common units for total gross proceeds (before underwriters’ compensation and estimated expenses) of approximately $154.2 million. The offering is scheduled to close on December 15, 2017, subject to satisfaction of customary closing conditions. Noble Midstream also granted the underwriters a 30-day option to purchase up to an aggregate of 480,000 additional common units. The Partnership currently intends to use the net proceeds from the offering, including any exercise of the underwriters’ option to purchase additional units, to fund a portion of the purchase price for the Partnership’s previously announced acquisition of Saddle Butte Rockies Midstream, LLC and affiliates and to pay related fees and expenses. The proceeds will be temporarily used to reduce borrowings under the Partnership’s revolving credit facility until proceeds are needed for the closing of the acquisition.
The underwriters intend to offer the common units for sale from time to time in one or more transactions (which may include block transactions), to purchasers directly or through agents, or through brokers in brokerage transactions on the New York Stock Exchange, or to dealers, in negotiated transactions or in combination of such methods of sale, at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.
Citigroup is acting as the sole book-running manager for the offering. When available, copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained by contacting Citigroup at Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146).
You may also obtain these documents for free when they are available by visiting the Securities and Exchange Commission’s (the “SEC”) website at www.sec.gov.