Natural Resource Partners L.P. announces pricing of Public Offering of common
units
07/10/2014 17:20
Natural Resource Partners L.P. today said that it has priced an underwritten public offering of 8,500,000 common units representing limited partner interests in Natural Resource Partners L.P. at USD 12.02 per common unit in an offering registered under the Securities Act of 1933, as amended.
Corbin J. Robertson, Jr., NRP's Chairman and Chief Executive Officer, and certain members of his family and his and their affiliates are expected to purchase up to a total of 1,039,933 common units in the offering, and the underwriters will receive no discount or commission on any common units purchased by them.
In connection with the offering, Natural Resource Partners L.P. granted the underwriters a 30-day option to purchase up to 1,275,000 additional common units. Natural Resource Partners L.P. intends to use the net proceeds of approximately USD 100.7 million from this offering, including its general partner's proportionate capital contribution, to fund a portion of the purchase price of the pending acquisition of non-operated working interests in oil and gas assets located in the Bakken/Three Forks play from an affiliate of Kaiser-Francis Oil Company.
Citigroup, Wells Fargo Securities, BofA Merrill Lynch and UBS Investment Bank are acting as joint book-running managers and Stifel and BB&T Capital Markets are acting as co-managers of the offering.
07/10/2014 17:20
Natural Resource Partners L.P. today said that it has priced an underwritten public offering of 8,500,000 common units representing limited partner interests in Natural Resource Partners L.P. at USD 12.02 per common unit in an offering registered under the Securities Act of 1933, as amended.
Corbin J. Robertson, Jr., NRP's Chairman and Chief Executive Officer, and certain members of his family and his and their affiliates are expected to purchase up to a total of 1,039,933 common units in the offering, and the underwriters will receive no discount or commission on any common units purchased by them.
In connection with the offering, Natural Resource Partners L.P. granted the underwriters a 30-day option to purchase up to 1,275,000 additional common units. Natural Resource Partners L.P. intends to use the net proceeds of approximately USD 100.7 million from this offering, including its general partner's proportionate capital contribution, to fund a portion of the purchase price of the pending acquisition of non-operated working interests in oil and gas assets located in the Bakken/Three Forks play from an affiliate of Kaiser-Francis Oil Company.
Citigroup, Wells Fargo Securities, BofA Merrill Lynch and UBS Investment Bank are acting as joint book-running managers and Stifel and BB&T Capital Markets are acting as co-managers of the offering.
