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Midcontinent E&P Mach Natural Resources LP announced that the underwriters of its public offering of 7.27 million common units have partially exercised their option to purchase an additional 1.01 million common units at $16.50 per unit.
Mach, an MLP, said the net proceeds will fund pending acquisitions or be allocated toward general partnership purposes, which may include future acquisitions.
Mach previously announced on Sept. 4 an offer of 7.85 million common units to finance two pending acquisitions in the Midcontinent, representing approximately $136 million, according to regulatory filings.
Raymond James & Associates, Inc., Stifel, Nicolaus & Co., Incorporated and Truist Securities, Inc. are acting as joint book-running managers for the offering.
Johnson Rice & Co. LLC and Stephens Inc. are serving as co-managers for the offering.
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