By Devika Patel
Knoxville, Tenn., Aug. 17 - Atlas Pipeline Partners, LP said it plans to sell about $17 million of its common units.
The company will sell approximately 2.7 million units at $6.35 apiece. The investors may purchase an additional 2.7 million units at $6.35 per unit for two years.
Proceeds will be used to repay debt and terminate certain legacy natural gas derivative positions.
Based in Moon Township, Pa., Atlas Pipeline Partners is a natural gas pipeline operating company.
| Issuer: | Atlas Pipeline Partners, LP
|
| Issue: | Common units
|
| Amount: | $17 million (approximate)
|
| Greenshoe: | $17 million (approximate)
|
| Units: | 2.7 million (approximate)
|
| Price: | $6.35
|
| Warrants: | No
|
| Pricing date: | Aug. 17
|
| Stock symbol: | NYSE: APL
|
| Stock price: | $7.30 at close Aug. 14
|
| Market capitalization: | $320 million
|
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