AUSTIN, Texas--(BUSINESS WIRE)--Sep. 10, 2015--
USA Compression Partners, LP (NYSE: USAC) (the “Partnership”), announced
today the pricing of an underwritten public offering of 4,000,000 common
units representing limited partner interests in the Partnership (“common
units”) at a public offering price of $19.33 per common unit. The
underwriters have been granted a 30-day option to purchase up to an
additional 600,000 common units from certain selling unitholders at the
public offering price less the underwriting discount. The offering is
scheduled to close on September 15, 2015, subject to customary closing
conditions.
The Partnership intends to use the net proceeds of approximately $74.4
million from the offering, after discounts, commissions and offering
expenses, to reduce indebtedness outstanding under its revolving credit
facility and for general partnership purposes. The Partnership will not
receive proceeds from any common units sold by the selling unitholders.
UBS Investment Bank, Wells Fargo Securities, Barclays, Goldman, Sachs, &
Co., J.P. Morgan, Raymond James and RBC Capital Markets are acting as
joint book-running managers for the offering. Regions Securities LLC,
Ladenburg Thalmann and MUFG are acting as co-managers.
The offering of these securities is being made only by means of the
prospectus supplement and accompanying base prospectus as filed with the
Securities and Exchange Commission (the “SEC”). When available, copies
of the prospectus supplement and accompanying base prospectus relating
to the offering may be obtained free of charge on the SEC’s website at www.sec.gov
under the Partnership’s name or from the underwriters of the offering as
follows:
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UBS Investment Bank
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Wells Fargo Securities
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Attn: Prospectus Department
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Attn: Equity Syndicate Dept.
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1285 Avenue of the Americas
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375 Park Avenue
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New York, New York 10019
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New York, New York 10152
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(888) 827-7275
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cmclientsupport@wellsfargo.com
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(800) 326-5897
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Barclays
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Goldman, Sachs & Co.
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c/o Broadridge Financial Solutions
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Attn: Prospectus Department
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1155 Long Island Avenue
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200 West Street
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Edgewood, New York 11717
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New York, New York 10282
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barclaysprospectus@broadridge.com
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(866) 471-2526
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(888) 603-5847
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J.P. Morgan
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Raymond James & Associates, Inc.
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c/o Broadridge Financial Solutions
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880 Carillon Parkway
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1155 Long Island Avenue
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St. Petersburg, Florida 33716
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Edgewood, New York, 11717
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Attn: Prospectus Department
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Telephone: (866) 803-9204
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Telephone: (800) 248-8863
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prospectus-eq_fi@jpmchase.com
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Email: prospectus@raymondjames.com
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RBC Capital Markets
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Attn: Equity Syndicate
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200 Vesey Street, 8th Floor
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New York, New York 10281
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Phone: (877) 822-4089
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Email: equityprospectus@rbccm.com
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This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described above, nor
shall there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such state or
jurisdiction. The offer is being made only through the prospectus as
supplemented, which is part of an effective registration statement on
Form S-3 previously filed by the Partnership with the SEC.
ABOUT USA COMPRESSION PARTNERS, LP
USA Compression Partners, LP is a growth-oriented Delaware limited
partnership that is one of the nation’s largest independent providers of
compression services in terms of total compression unit horsepower. The
Partnership partners with a broad customer base composed of producers,
processors, gatherers and transporters of natural gas and crude oil. The
Partnership focuses on providing compression services to infrastructure
applications primarily in high volume gathering systems, processing
facilities and transportation applications.
FORWARD-LOOKING STATEMENTS
Statements in this press release may be forward-looking statements as
defined under federal law, including those related to the Partnership’s
potential securities offering. These forward-looking statements rely on
a number of assumptions concerning future events and are subject to a
number of uncertainties and factors, many of which are outside the
control of the Partnership, and a variety of risks that could cause
results to differ materially from those expected by management of the
Partnership. The Partnership undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results over time. You are cautioned not to place undue reliance on any
forward-looking statements, which speak only as of the date of this
press release. Known material factors that could cause the Partnership’s
actual results to differ materially from the results contemplated by
such forward-looking statements are described in the prospectus as
supplemented, which is a part of the Registration Statement, and Part I,
Item 1A (“Risk Factors”) of the Partnership’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2014. You should also understand
that it is not possible to predict or identify all such factors and you
should not consider these factors to be a complete statement of all
potential risks and uncertainties.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150910005840/en/
Source: USA Compression Partners, LP
Investor Contact:
USA Compression Partners, LP
Matthew
C. Liuzzi, 512-473-2662
Vice President, Chief Financial Officer and
Treasurer
mliuzzi@usacompression.com
