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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Sun., May. 1, 12:12 AM

Slide #4. Hi-Crush Partners LP Secondary Offering

Company: Hi-Crush Partners LP (NYSE:HCLP)
Date announced: 4/28/2016
Shares Offered: 6,000,000
Date of Pricing: 4/29/2016
Price Per Share: $7.30
Secondary Offering Details: Hi-Crush Partners LP (NYSE:HCLP), "Hi-Crush" or the "Partnership", today announced the commencement of a primary public offering of $40.0 million of its common units representing limited partnership interests in the Partnership (the "common units"). In connection with the offering, the Partnership intends to grant the underwriter a 30-day option to purchase up to an additional $6.0 million of common units. The underwriter intends to offer the common units to be sold in the offering from time to time for sale in one or more transactions on the NYSE, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by it and subject to its right to reject any order in whole or in part. The Partnership intends to use the net proceeds from this offering for general partnership purposes. -updated 4/29 - Hi-Crush Partners LP (NYSE:HCLP), "Hi-Crush" or the "Partnership", today announced that it has priced a primary public offering of 6,000,000 units representing limited partnership interests in the Partnership (the "common units") for total gross proceeds (before underwriter's compensation and estimated expenses) of approximately $43.8 million. The size of the offering was increased by $3.8 million from the previously announced offering size of $40.0 million. In connection with the offering, the Partnership granted the underwriter a 30-day option to purchase up to an additional 900,000 common units on the same terms. The underwriter intends to offer the common units to be sold in the offering from time to time for sale in one or more transactions on the NYSE, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by it and subject to its right to reject any order in whole or in part. The Partnership intends to use the net proceeds from this offering for general partnership purposes. The offering is expected to close on or around May 4, 2016, subject to customary closing conditions.

Hi-Crush Partners is a limited partnership formed to acquire certain sand reserves and related processing and transportation facilities of Hi-Crush Proppants LLC. Co. is a producer and supplier of monocrystalline sand, a mineral that is used as a proppant to enhance the recovery rates of hydrocarbons from oil and natural gas wells. Co.'s reserves consist of “Northern White” sand, a resource existing in Wisconsin and certain portions of the upper Midwest region of the U.S. Co. also owns, operates and develops sand reserves and related excavation and processing facilities. A portion of Co.'s frac sand production is sold to pressure pumping service providers under long-term contracts.
Open the HCLP Page at The Online Investor »

Company Name:  Hi-Crush Partners LP
Website:  www.hicrushpartners.com
Sector:  Metals & Mining
Number of ETFs Holding HCLP:  1
Total Market Value Held by ETFs:  $4606
Total Market Capitalization:  $290.00M
% of Market Cap. Held by ETFs:  0.00%
 

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

May 1, 2016    12:12 AM Eastern
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Buy (2.89 out of 4)
35th percentile
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