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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Thu., Aug. 28, 9:04 AM

Slide #19. Hi-Crush Partners LP Secondary Offering

Company: Hi-Crush Partners LP (NYSE:HCLP)
Date announced: 8/11/2014
Shares Offered: 3,260,870
Date of Pricing: 8/12/2014
Price Per Share: $62.91
Secondary Offering Details: Hi-Crush Partners LP (NYSE:HCLP), "Hi-Crush" or the "Partnership," today announced the pricing of an underwritten secondary public offering of 3,260,870 common units representing limited partner interests in the Partnership by Hi-Crush Proppants LLC (the "Selling Unitholder") at a price to the public of $62.91 per common unit. The Selling Unitholder has also granted the underwriters a 30-day option to purchase up to an additional 489,130 common units. The Selling Unitholder owns Hi-Crush GP LLC, the Partnership's general partner. After giving effect to the sale of common units by the Selling Unitholder in the offering and assuming that the underwriters do not exercise their option to purchase additional common units, the Selling Unitholder will continue to own 489,130 common units, 13,640,351 subordinated units and all of the Partnership's incentive distribution rights. The Partnership will not receive any proceeds from the sale of common units in the offering, and the number of limited partner units outstanding will remain unchanged. The offering is expected to close on August 15, 2014, subject to customary closing conditions.

Hi-Crush Partners is engaged 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 2013, contained 62.6 million tons of proven recoverable reserves of frac sand . 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 2013, the facility contained 46.8 million tons of proven recoverable sand reserves. Co.'s frac sand production is mainly sold to pressure pumping service providers under long-term contracts.
Open the HCLP Page at The Online Investor »

Company Name:  Hi-Crush Partners LP
Sector:  Metals & Mining
Number of ETFs Holding HCLP:  1
Total Market Value Held by ETFs:  $932633
Total Market Capitalization:  $1.23B
% of Market Cap. Held by ETFs:  0.08%

Open the HCLP Page at The Online Investor (in a new window) »

August 28, 2014    9:04 AM Eastern
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Buy (3.09 out of 4)
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