CANONSBURG, Pa., Dec. 8, 2014 /PRNewswire/ -- Rice Energy Inc. (NYSE:RICE) ("Rice Energy") today announced the commencement of the Rice Midstream Partners LP ("Rice Midstream") initial public offering of 25,000,000 common units representing limited partner interests, at an anticipated initial public offering price between $19.00 and $21.00 per common unit, pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission ("SEC"). Rice Midstream also expects to grant the underwriters a 30-day option to purchase up to an additional 3,750,000 common units. Rice Midstream has been approved to list its common units on the New York Stock Exchange under the symbol "RMP," subject to official notice of issuance.
The common units being offered represent an approximate 43.5% limited partner interest in Rice Midstream (or approximately 50.0% if the underwriters exercise in full their option to purchase additional common units). Rice Energy and its affiliates will own the remaining approximately 56.5% limited partner interest in Rice Midstream (or approximately 50.0% if the underwriters exercise in full their option to purchase additional common units). Rice Energy will own the general partner of Rice Midstream and all of its incentive distribution rights.
Barclays, Citigroup, Wells Fargo Securities, Goldman, Sachs & Co. and RBC Capital Markets are acting as joint book-running managers for the offering.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective.
This offering will be made only by means of a written prospectus. A copy of the preliminary prospectus for the offering may be obtained, when available, from:
Barclays c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, New York 11717 Toll-Free: (888) 603-5847 |
Citigroup c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, New York 11717 Toll-Free: (800) 831-9146 |
Wells Fargo Securities c/o Equity Syndicate Department 375 Park Avenue New York, New York 10152 Toll-Free: 1-800-326-5897 |
Goldman, Sachs & Co. Attn: Prospectus Department 200 West Street New York, New York 10282 [email protected] |
RBC Capital Markets Attn: Prospectus Department Three World Financial Center 200 Vesey Street, 8th Floor New York, NY 10281 Toll-Free: 1-877-822-4089 |
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Rice Midstream
Rice Midstream Partners LP is a limited partnership formed to own, operate, develop and acquire midstream assets in the Appalachian Basin.
Forward-Looking Statements
This release includes "forward-looking statements" within the meaning of federal securities laws. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Rice Midstream's control. All statements, other than historical facts included in this release, are forward-looking statements. All forward-looking statements speak only as of the date of this release. Although Rice Midstream believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements.
This release contains certain forward-looking statements that are based on current plans and expectations and are subject to various risks and uncertainties. Rice Midstream's business and any offering may be influenced by many factors that are difficult to predict, involve uncertainties that may materially affect actual results and are often beyond Rice Midstream's control. These factors include, but are not limited to, changes to business plans as circumstances warrant, and limited partner interests of Rice Midstream may not ultimately be offered to the public because of, general market conditions or other factors. For a full discussion of these risks and uncertainties, please refer to the "Risk Factors" section of the Registration Statement on Form S-1. Rice Midstream refers you to that discussion for further information.
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SOURCE Rice Energy Inc.
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