By Devika Patel
Knoxville, Tenn., June 19 - Atlas Pipeline Partners, LP priced a $50.1 million private placement of common units, according to a prospectus supplement filed Thursday with the Securities and Exchange Commission.
Atlas Pipeline will sell $40.1 million of its common units to Atlas America, Inc. In addition, Atlas Pipeline Holdings, LP will buy $10 million of common units.
The deal was announced in a press release Wednesday.
The 1.39 million units will be sold at $37.52 apiece, minus an underwriting discount of $1.5008 per unit, for a final price of $36.0192 per unit.
The prospectus supplement was for a concurrent public offering of 5 million common units, with a greenshoe of up to 750,000 additional common units.
Proceeds will be used to terminate some crude oil derivatives agreements that are associated with the ethane and propane portion of Atlas Pipeline Partners' natural gas liquids volume.
Based in Moon Township, Pa., Atlas Pipeline Partners is a natural gas pipeline operating company.
| Issuer: | Atlas Pipeline Partners, LP
|
| Issue: | Common units
|
| Amount: | $50.1 million
|
| Units: | 1.39 million
|
| Price: | $36.0192
|
| Warrants: | No
|
| Investors: | Atlas America, Inc. (for $40.1 million), Atlas Pipeline Holdings, LP (for $10 million)
|
| Announcement date: | June 18
|
| Pricing date: | June 19
|
| Unit symbol: | NYSE: APL
|
| Unit price: | $37.52 at close June 18
|
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