Deal conducted through bookrunners Raymond James, Baird, Stifel, BMO
By Devika Patel
Knoxville, Tenn., Jan. 27 - Cypress Energy Partners, LP said the underwriters for its initial public offering of units opted to exercise the deal's greenshoe for total proceeds of $86.25 million. The deal was announced Jan. 6 and priced for $75 million on Jan. 14.
The company sold 4,312,500 common units at $20.00 per unit. Of the units, 562,500 were part of the greenshoe.
Raymond James & Associates, Inc., Robert W. Baird & Co. Inc., Stifel, Nicolaus & Co., Inc. and BMO Capital Markets Corp. were the joint bookrunning managers.
The Tulsa, Okla., company provides saltwater disposal and other water and environmental services to U.S. onshore oil and natural gas producers and trucking companies. The units are expected to trade on the New York Stock Exchange under the symbol "CELP."
| Issuer: | Cypress Energy Partners, LP
|
| Issue: | Common units
|
| Amount: | $86.25 million (including $11.25 million greenshoe)
|
| Units: | 4,312,500
|
| Price: | $20.00
|
| Bookrunners: | Raymond James & Associates, Inc., Robert W. Baird & Co. Inc., Stifel, Nicolaus & Co., Inc. and BMO Capital Markets Corp.
|
| Co-managers: | Janney Montgomery Scott LLC and Wunderlich Securities, Inc.
|
| Announcement date: | Jan. 6
|
| Pricing date: | Jan. 14
|
| Settlement date: | Jan. 27
|
| Unit symbol: | NYSE: CELP
|
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