Preferred Stock Offering Details: |
Atlas Resource Partners, L.P. (NYSE: ARP) today announced that it has commenced a public offering of Class E Cumulative Redeemable Perpetual Preferred Units ("Class E Preferred Units") pursuant to an effective shelf registration statement on Form S-3, filed with the Securities and Exchange Commission (the "SEC"). ARP will grant the underwriters a 30-day option to purchase additional Class E Preferred Units. ARP intends to use the net proceeds from the offering for general partnership purposes, which may include repayment of borrowings under its revolving credit facility. - updated 4/8 - Atlas Resource Partners, L.P. (NYSE: ARP) today announced the pricing of its public offering of 255,000 10.75% Class E Cumulative Redeemable Perpetual Preferred Units ("Class E Preferred Units") at a price of $25.00 per unit. The underwriters have been granted a 30-day option to purchase up to an additional 38,250 additional Class E Preferred Units at the public offering price less the underwriting discount. Distributions will be payable on the Class E Preferred Units at an initial rate of 10.75% per annum of the stated liquidation preference of $25.00. The offering is expected to close on April 14, 2015, subject to customary closing conditions. |