By Devika Patel
Knoxville, Tenn., Aug. 20 - Atlas Pipeline Partners LP settled a private placement of units for $17.08 million on Aug. 17, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 2,689,765 common units at $6.35 per unit. Each unit is accompanied by one warrant, which is exercisable at $$6.35 for two years.
Proceeds will be used to repay debt and terminate certain legacy natural gas derivative positions.
Atlas is a Moon Township, Pa., midstream energy services provider engaged in the transmission, gathering and processing of natural gas.
| Issuer: | Atlas Pipeline Partners LP
|
| Issue: | Common units
|
| Amount: | $17.08 million
|
| Shares: | 2,689,765
|
| Price: | $6.35
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $6.35
|
| Settlement date: | Aug. 17
|
| Stock symbol: | NYSE: APL
|
| Stock price: | $6.50 at close Aug. 17
|
| Market capitalization: | $296 million
|
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