Summit Midstream Partners LP priced a public offering of 6.5 million common units, representing limited partner interests, at $30.75 each, the company said May 7.
Underwriters were granted a monthlong option to purchase 975,000 additional units.
The offering is scheduled to close May 13.
Net proceeds of about $199.9 million will pay part of the purchase price for the pending acquisition of Polar Midstream LLC and Epping Transmission Co. LLC interests, Summit said.
If the acquisition is not completed, the proceeds will support general partnership purposes including revolving credit facility borrowings.
Barclays, BofA Merrill Lynch, Goldman Sachs & Co., Morgan Stanley, Wells Fargo Securities LLC, Baird, Citigroup, Deutsche Bank Securities Inc. and RBC Capital Markets are joint book-running managers.
BB&T Capital Markets and U.S. Capital Advisors are co-managers.
The Woodlands, Texas-based Summit Midstream Partners LP is a North America-focused midstream MLP.
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