Preferred Stock Offerings
By Ru Back Packer Staff, updated Thursday, February 1, 6:31 AM
Slide #208. Atlas Resource Partners, L.P. — Preferred Stock Offering
||Atlas Resource Partners, L.P. (ARP)
|Preferred Stock Offering Details:
||Atlas Resource Partners, L.P. (NYSE: ARP) today announced the pricing of its public offering of 3,200,000 8.625% Class D Cumulative Redeemable Perpetual Preferred Units ("Class D 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 480,000 additional Class D Preferred Units at the public offering price less the underwriting discount. Distributions will be payable on the Class D Preferred Units at an initial rate of 8.625% per annum of the stated liquidation preference of $25.00. The offering is expected to close on October 2, 2014, 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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