Proceeds slated for debt repayment, acquisitions and capital expenses
By Wendy Van Sickle
Columbus, Ohio, June 7 – Rice Midstream Partners LP said it priced a $148 million public offering of common units with a $22.2 million greenshoe.
The company will sell 8 million common units at $18.50 per unit. The price per unit is a 7.4% discount to the June 6 closing share price of $19.97.
Settlement is expected June 13.
Proceeds will be used for general partnership purposes, including repayment of outstanding debt, acquisitions and capital expenditures.
Wells Fargo Securities is acting as book-running manager of the offering.
Rice Midstream is a fee-based, growth-oriented limited partnership formed by Rice Energy to own, operate, develop and acquire midstream assets in the Appalachian Basin. Rice Energy is an oil and gas company based in Canonsburg, Pa.
| Issuer: | Rice Midstream Partners LP
|
| Issue: | Common units
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| Amount: | $148 million
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| Units: | 8 million
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| Greenshoe: | $22.2 million, or 1.2 million units
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| Price: | $18.50
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| Warrants: | No
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| Book-running manager: | Wells Fargo Securities
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| Pricing date: | June 7
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| Settlement date: | June 13
|
| Stock symbol: | NYSE: RMP
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| Stock price: | $19.97 at close June 6
|
| Market capitalization: | $1.48 billion
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