Summit Midstream Partners, LP Announces Exercise of Underwriters' Option to Purchase Additional Common Units Representing Limited Partner Interests

May 28, 2015, 16:15 ET from Summit Midstream Partners, LP

THE WOODLANDS, Texas, May 28, 2015 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) announced today that the underwriters of its previously announced public offering of 6,500,000 common units, which closed on May 13, 2015, have exercised and closed their option to purchase an additional 975,000 common units.

The total net proceeds from the offering of an aggregate of 7,475,000 common units, after deducting underwriting and other fees, will be approximately $226.9 million, including the general partner's proportionate capital contribution of approximately $4.7 million.  SMLP used the net proceeds from the previously announced offering to fund a portion of the purchase price of its recently announced acquisition of all of the issued and outstanding membership interests in Polar Midstream, LLC and Epping Transmission Company, LLC.  SMLP will use the proceeds from the underwriters' purchase of the additional 975,000 common units for general partnership purposes, including the repayment of debt.

Barclays, BofA Merrill Lynch, Goldman, Sachs & Co., Morgan Stanley, Wells Fargo Securities, Baird, Citigroup, Deutsche Bank Securities and RBC Capital Markets are acting as joint book-running managers for the offering.  BB&T Capital Markets and U.S. Capital Advisors are acting as co-managers for the offering.

Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained free of charge on the Securities and Exchange Commission's website at www.sec.gov or from the underwriters of the offering as follows:

Barclays

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY 11717

(888) 603-5847

barclaysprospectus@broadridge.com              

BofA Merrill Lynch

222 Broadway, New York, NY 10038

Attn: Prospectus Department

email dg.prospectus_requests@baml.com   

Goldman, Sachs & Co.

Attention: Prospectus Department

200 West Street

New York, NY 10282

(866) 471-2526

prospectus-ny@ny.email.gs.com 

Morgan Stanley

Attn: Prospectus Department

180 Varick Street, 2nd Floor

New York, NY 10014

Wells Fargo Securities

Attn: Equity Syndicate Dept.

375 Park Avenue

New York, New York 10152

Phone: (800) 326-5897

cmclientsupport@wellsfargo.com 

Baird

Attn:  Syndicate Dept.

777 E. Wisconsin Ave.

Milwaukee, WI  53202

Phone:  (800) 792-2473

syndicate@rwbaird.com 

Citigroup

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, New York 11717

Phone: (800) 831-9146

batprospectusdept@citi.com 

Deutsche Bank Securities

Attn: Prospectus Group

60 Wall Street

New York, NY 10005-2836

(800) 503-4611

prospectus.cpdg@db.com 

RBC Capital Markets

Attn: Equity Syndicate

Three World Financial Center

200 Vesey Street, 8th Floor

New York, New York 10281-8098

(877) 822-4089

equityprospectus@rbccm.com 

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described above, 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. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

About Summit Midstream Partners, LP SMLP is a growth-oriented limited partnership focused on developing, owning and operating midstream energy infrastructure assets that are strategically located in the core producing areas of unconventional resource basins, primarily shale formations, in North America. SMLP currently provides natural gas gathering, treating and processing services pursuant to primarily long-term and fee-based natural gas gathering and processing agreements with customers and counterparties in four unconventional resource basins: (i) the Appalachian Basin, which includes the Marcellus Shale formation in northern West Virginia; (ii) the Williston Basin, which includes the Bakken and Three Forks shale formations in northwestern North Dakota; (iii) the Fort Worth Basin, which includes the Barnett Shale formation in north-central Texas; and (iv) the Piceance Basin, which includes the Mesaverde formation as well as the Mancos and Niobrara shale formations in western Colorado and eastern Utah. SMLP owns and operates more than 2,300 miles of pipeline and over 250,000 horsepower of compression. SMLP is headquartered in The Woodlands, Texas with regional corporate offices in Denver, Colorado and Atlanta, Georgia.

Forward-Looking Statements This press release includes certain statements concerning expectations for the future that are forward-looking within the meaning of the federal securities laws. Forward-looking statements contain known and unknown risks and uncertainties (many of which are difficult to predict and beyond management's control) that may cause SMLP's actual results in future periods to differ materially from anticipated or projected results.  An extensive list of specific material risks and uncertainties affecting SMLP is contained in its 2014 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 2, 2015 and as amended and updated from time to time. Any forward-looking statements in this press release are made as of the date of this press release and SMLP undertakes no obligation to update or revise any forward-looking statements to reflect new information or events.

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SOURCE Summit Midstream Partners, LP



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