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Summit Midstream says 77,939 preferred units tendered via exchange
By Mary-Katherine Stinson
Lexington, Ky., Jan. 13 – Summit Midstream Partners, LP announced 77,939 units of its 9.5% series A fixed-to-floating rate cumulative redeemable perpetual preferreds series A had been tendered by the Jan. 12 deadline, according to preliminary information by American Stock Transfer & Trust Co. LLC, in a press release Thursday.
This number is subject to verification.
As previously reported, the company was offering to exchange each series A preferred unit for 38 common units, which it expects to deliver on Jan. 14.
As of the close of business on Jan. 6, holders of 46,203, or 32.2%, of the preferred units had tendered their units. The total was little changed from 46,178, or 32.19%, of the preferred units for which there was an agreement to tender under a support agreement.
D.F. King & Co., Inc. is the information agent (866 811-1442, 212 269-5550, summitmidstream@dfking.com).
American Stock Transfer & Trust Co., LLC is the depositary for the exchange offer (877 248-6417, 718 921-8317).
Summit, based in Houston, is an owner and operator of midstream energy infrastructure assets.
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