Memorial Production Partners LP prices public offering of 10.5m common units
Dec 07, 2012 (Menafn - M2 EQUITYBITES via COMTEX) --Natural gas company Memorial Production Partners LP (nasdaqgs:MEMP) reported on Thursday that it has priced its public offering of 10,500,000 common units at a price to the public of USD17.00 per unit.
The company has provided the underwriters with a 30-day option to purchase up to an additional 1,575,000 common units.
Net proceeds of approximately USD171.5m, or USD197.3m if the underwriters exercise their option to purchase additional units in full, are expected to be used by the company to fund a portion of the purchase price for the pending acquisition of oil and natural gas properties.
Subject to customary closing conditions, the offering is expected to close on 12 December 2012. Raymond James, Citigroup, BofA Merrill Lynch, Barclays, RBC Capital Markets and Wells Fargo Securities are acting as joint book-running managers.
Comments on this story may be sent to firstname.lastname@example.org
(C)1994-2012 M2 COMMUNICATIONS http://www.m2.com