Hi-Crush Partners LP (NYSE:HCLP) ("Hi-Crush" or the "Partnership") today announced the commencement, subject to market conditions, of a primary public offering of 4.25 million common units representing limited partnership interests in the Partnership. The Partnership intends to use the net proceeds from this offering to partially finance the acquisition of its sponsor's Augusta facility, refinance its existing revolving credit facility, and for related fees and expenses. - updated 4/10 - Hi-Crush Partners LP (NYSE:HCLP) ("Hi-Crush") today announced the pricing of the primary offering of 4,250,000 common units at a price to the public of $41.29 per common unit. The offering is expected to close on or about April 15, 2014, subject to customary closing conditions. Hi-Crush intends to use the net proceeds from the offering to partially finance the recently announced acquisition of the Augusta facility, to refinance its existing revolving credit facility, and for related fees and expenses.
Hi-Crush Partners engages in the excavation and processing of raw frac sand for use in hydraulic fracturing operations for oil and natural gas wells. Co. owns and operates the Wyeville facility, which is located in Monroe County, WI and, as of Dec 31 2012, contained 53.9 million tons of proven recoverable sand reserves of mesh sizes Co. has contracted to sell. Co. also owns a preferred interest in Hi-Crush Augusta LLC, which owns the Augusta raw frac sand processing facility located in Eau Claire County, WI and, as of Dec 31 2012, contained 48.4 million tons of proven recoverable sand reserves. Co.'s frac sand is mainly sold to pressure pumping service providers under long-term contracts.
Open the HCLP Page at The Online Investor »
Nothing in The Online Investor is intended to be investment advice, nor does it represent the opinion of, counsel
from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you
agree to the following Full Disclaimer & Terms of Service. Video widget and stock market videos powered by Market News Video. Quote data delayed at least 20
minutes, powered by Ticker Technologies, and Mergent. Contact The Online Investor; Meet Our Editorial Staff.