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By Ru Back Packer Staff, updated Sunday, January 28, 9:14 AM

Slide #179. Atlas Resource Partners, L.P. Preferred Stock Offering

Company: Atlas Resource Partners, L.P. (ARP)
Date announced: 4/7/2015
Security type: 10.75% Class E Cumulative Redeemable Perpetual Preferred Units (ARP.PRE)
Shares Offered: 255,000
Date of Pricing: 4/8/2015
Price Per Share: $25
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.

Atlas Resource Partners is an an independent developer and producer of natural gas, crude oil and natural gas liquids, with operations in basins across the U.S. Co. is a sponsor and manager of investment partnerships (Drilling Partnerships), in which Co. co-invests, to finance a portion of its natural gas, crude oil and natural gas liquids production activities. As of Dec 31 2015, Co.'s estimated proved reserves were 921.00 billion cubic feet equivalent, including the reserves net to Co.'s equity interest in its Drilling Partnerships. Of Co.'s estimated proved reserves, approximately 82% were proved developed and approximately 66% were natural gas.

Preferreds: ARP.PRE, ARP.PRD


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Name: Atlas Resource Partners LP
Website: atlasresourcepartners.com
Sector: Oil & Gas Exploration & Production

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