Finance & Investing | General | Fundraising | Capital Markets
Azure Midstream Prices $50MM Public Offering
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Azure Midstream Partners, LP announced that it has priced its public offering of 3,500,000 common units representing limited partner interests at a price to the public of $14.17 per Common Unit.
The Partnership has granted the underwriters a 30-day option to purchase up to 525,000 additional Common Units. The offering is expected to settle and close on June 22, 2015, subject to customary closing conditions. The Partnership intends to use the net proceeds from this offering, including any net proceeds from the underwriters' exercise of their option to purchase additional common units, to repay a portion of the outstanding borrowings under its revolving credit facility. Amounts repaid under our revolving credit facility may be reborrowed to fund our ongoing capital program, potential future acquisitions or for general partnership purposes.
BofA Merrill Lynch, J.P. Morgan, RBC Capital Markets and Wells Fargo Securities are acting as joint book-running managers for the offering. Baird, Stifel, Janney Montgomery Scott and Oppenheimer & Co. are acting as co-managers for the offering.
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