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New Source Energy Launches $40MM Public Offering
New Source Energy Partners L.P. has commenced a public offering of $40 million of Series A Cumulative Convertible Preferred Units pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission.
The Partnership will grant the underwriters a 30-day option to purchase up to 15% additional Series A Preferred Units. New Source intends to use all of the net proceeds from the offering to repay a portion of the indebtedness outstanding under its revolving credit facility.
Stifel is serving as lead book-running manager and Baird is serving as joint book-running manager for the offering. Janney Montgomery Scott, Oppenheimer & Co. and Wunderlich Securities are serving as co-leads for the offering.
Announced Date
May 04,2015
Value ( $MM )
40
Type
Equity-Stock-Sales
Use of Fund
Debt Reduction
Company
New Source Energy Partners L.P.
Underwriter
/Book Runner
/Book Runner
Oppenheimer & Co Inc.,Wunderlich Securities Inc.,Baird, Stifel, Janney Montgomery Scott
Regions
United States
Country
United States
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