Wells Fargo is the agent; Advisory Research, Salient among investors
By Devika Patel
Knoxville, Tenn., July 15 – American Midstream Partners, LP arranged a $200 million private placement of common units on July 14, according to an 8-K filed Tuesday with the Securities and Exchange Commission. Wells Fargo Securities is the agent.
The company will sell 7,613,247 common units at $26.27 per unit. The price per unit is a 5.84% discount to the July 11 closing share price of $27.90.
Settlement is expected in early December.
Advisory Research, Inc. and Salient Capital Partners are the co-lead investors.
Proceeds will be used to acquire entities holding onshore natural gas processing and offshore natural gas gathering and transportation and oil gathering assets for consideration of approximately $115 million from an affiliate of DCP Midstream, LLC and for general partnership purposes.
Denver-based American Midstream owns, operates, develops and acquires natural gas midstream energy assets.
| Issuer: | American Midstream Partners, LP
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| Issue: | Common units
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| Amount: | $200 million
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| Units: | 7,613,247
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| Price: | $26.27
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| Warrants: | No
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| Agent: | Wells Fargo Securities
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| Investors: | Advisory Research, Inc. and Salient Capital Partners (co-lead)
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| Pricing date: | July 14
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| Stock symbol: | NYSE: AMID
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| Stock price: | $27.90 at close July 11
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| Market capitalization: | $324.7 million
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