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Crestwood Equity Partners LP | 9.25% Preferred Partnership Units -144A STOCK (CEQP.PR)
Prospectus excerpt: The preferred units represent a separate class of our limited partnership interests. As of May 2, 2018, there were 71,257,445 preferred units outstanding. On September 30, 2015, in connection with the Merger, the selling unitholders listed in this prospectus received 59,345,672 preferred units. An additional 11,911,773 preferred units were subsequently issued as PIK Distributions (as defined below). On November 23, 2015, we effected a reverse unit split at the ratio of 1-for-10, which proportionally adjusted the conversion ratio of the preferred units, so that the 71,257,445 preferred units currently outstanding are convertible into 7,125,745 common units, with fractional units rounded to the nearest whole unit; provided, however, that in certain circumstances, the preferred units may be converted using the Special Conversion Amount (as defined in the Partnership Agreement Amendment) or the Adjusted Conversion Amount (as defined in the Partnership Agreement Amendment), in each case as described below under “Conversion”. Full Prospectus PDF », Secondary Prospectus PDF », CEQP Page »
Alternate symbology: | CEQP-, CEQP-P, CEQPpr | Redeemable?: | Yes | Call Date: | 5/3/2018 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 71,257,445 | Liquidation Preference: | $9.13 | Original Coupon: | 9.25% | Pay Period: | Quarterly | Pay Dates: | 1-Feb, 1-May, 1-Aug, 1-Nov | CDx3 Compliance Rating: |
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Crestwood Equity Partners is a holding company. Through its subsidiary, Co. develops, acquires, owns or controls, and operates assets and operations within the energy midstream sector. Co.'s segments are: gathering and processing, which provides gathering and transportation services and processing, treating and compression services to producers; storage and transportation, which provides crude oil and natural gas storage and transportation services to producers, utilities and other customers; and marketing, supply and logistics, which provides natural gas liquid, crude oil and natural gas marketing, storage and transportation services to producers, refiners, marketers and other customers. Preferred: CEQP.PR Open the CEQP Information Page »
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