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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Wed., Jul. 23, 5:55 PM

Slide #13. StoneMor Partners L.P. Secondary Offering

Company: StoneMor Partners L.P. (NYSE:STON)
Date announced: 2/10/2014
Shares Offered: 2,000,000
Date of Pricing: 2/11/2014
Price Per Share: $24.45
Secondary Offering Details: StoneMor Partners L.P. (NYSE:STON) ("StoneMor") announced today a public offering, subject to market and other conditions, of 1,800,000 common units representing limited partner interests in StoneMor. In connection with the offering, StoneMor intends to grant the underwriters a 30-day option to purchase up to 270,000 additional common units to cover over-allotments, if any. StoneMor intends to use the net proceeds from the common units it is offering to pay down borrowings outstanding under its existing credit facility. If the underwriters exercise their option to purchase additional common units, StoneMor will use the additional net proceeds to pay down borrowings outstanding under its credit facility. Amounts to be paid down under StoneMor's credit facility were incurred for acquisitions and general partnership purposes, including for working capital needs and to fund StoneMor's capital expenditure program. - updated 2/11 - StoneMor Partners L.P. (NYSE:STON) ("StoneMor") announced today that it has priced 2,000,000 common units representing limited partner interests in StoneMor at a price to the public of $24.45 per unit. The offering was increased from the previously announced level by 200,000 common units. StoneMor has granted the underwriters a 30-day option to purchase up to 300,000 additional common units to cover over-allotments, if any. StoneMor expects the offering to close on February 14, 2014, subject to customary closing conditions and as described below. StoneMor expects to receive net proceeds of approximately $46.1 million (or approximately $53.1 million if the underwriters exercise their option to purchase an additional 300,000 common units), after deducting the underwriting discount and offering expenses in connection with this offering.

StoneMor Partners provides funeral and cemetery products and services in the death care industry. Co.'s cemetery products and services include: interment rights, which consist of burial lots, lawn crypts, mausoleum crypts, cremation niches, and perpetual care rights; merchandise, which consists of burial vaults, caskets, grave markers and grave marker bases, and memorials; and services, which consist of installation of burial vaults, installation of caskets, installation of other cemetery merchandise, and other service items. As of Dec 31 2012, Co. owned 258 and operated 276 cemeteries in 27 states and Puerto Rico, and also owned and operated 86 funeral homes in 18 states and Puerto Rico.
Open the STON Page at The Online Investor »

Company Name:  StoneMor Partners L P
Website:  www.stonemor.com
Sector:  Consumer Services
 

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July 23, 2014    5:55 PM Eastern
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