Debt | Capital Markets | Private Equity Activity
Memorial Closes Offering to Fund East TX Acquisition
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Memorial Production Partners LP has reported closing of its previously announced public offering of common units representing limited partner interests in MEMP.
Including the underwriters' option to purchase additional common units, which was exercised in full, MEMP sold a total of 9,775,000 common units at a price to the public of $18.35 per common unit.
MEMP intends to use the net proceeds from the offering of approximately $172.6 million, including its general partner's proportionate capital contribution and after deducting underwriting discounts but before offering expenses, to fund a portion of the purchase price for MEMP's recently announced pending acquisition of oil and natural gas properties. If the pending acquisition is not consummated for any reason, MEMP will use the net…
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