By Sheri Kasprzak
New York, June 4 - EV Energy Partners, LP settled a private placement for $117,600,012.
The offering is in addition to the company's $98 million offering closed in late February.
In the most recent deal, the investors, led by Zimmer Lucas Partners, LP, bought 3,408,696 common units at $34.50 each, a 6% discount to the volume weighted average price of the company's common units for the 10 trading days ended May 31.
In addition to Zimmer Lucas, Alerian Capital Management, LLC; GPS Partners LLC; Lehman Brothers MLP Partners, LP; Swank Capital, LLC; funds managed by Fiduciary Asset Management, LLC; Hartz Capital MLP, LLC; and Tortoise Capital Resources Corp. also participated in the deal.
In the February offering, some of the same investors bought 3,935,743 units at $24.90 each.
Proceeds will be used for the repayment of borrowings under the company's revolving credit facility and for $25 million of the $100 million purchase price of the Central/East Texas acquisition expected to close in the next five weeks.
Houston-based EV Energy Partners acquires, produces and develops oil and gas properties.
| Issuer: | EV Energy Partners, LP
|
| Issue: | Common units
|
| Amount: | $117,600,012
|
| Units: | 3,408,696
|
| Price: | $34.50
|
| Warrants: | No
|
| Investors: | Zimmer Lucas Partners, LP (lead); Alerian Capital Management, LLC; GPS Partners LLC; Lehman Brothers MLP Partners, LP; Swank Capital, LLC; funds managed by Fiduciary Asset Management, LLC; Hartz Capital MLP, LLC; Tortoise Capital Resources Corp.
|
| Settlement date: | June 1
|
| Stock symbol: | Nasdaq: EVEP
|
| Stock price: | $35.88 at close June 1
|
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