By Sheri Kasprzak
New York, Feb. 27 - EV Energy Partners, LP wrapped a $98 million private placement of limited partnership units with a group of institutional investors led by Zimmer Lucas Partners, LP.
The investors bought 3,935,743 units at $24.90 each, a 5.7% discount to the average closing price of the company's common units for the 10-day trading period ended Feb. 23.
The other investors in the deal included Alerian Capital Management, LLC; GPS Partners LLC; Lehman Brothers MLP Partners, LP; and Swank Capital, LLC.
Proceeds will be used to repay amounts due under its revolving credit facility.
Houston-based EV Energy Partners acquires, produces and develops oil and gas properties.
| Issuer: | EV Energy Partners, LP
|
| Issue: | Limited partnership units
|
| Amount: | $98 million
|
| Units: | 3,935,743
|
| Price: | $24.90
|
| Warrants: | No
|
| Investors: | Zimmer Lucas Partners, LP (lead); Alerian Capital Management, LLC; GPS Partners LLC; Lehman Brothers MLP Partners, LP; and Swank Capital, LLC
|
| Settlement date: | Feb. 27
|
| Stock symbol: | Nasdaq: EVEP
|
| Stock price: | $26.84 at close Feb. 27
|
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