JP Energy Partners LP Launches Initial Public Offering
JP Energy Partners LP (“JPE”) today announced that it has commenced its initial public offering of 13,750,000 common units representing limited partner interests in JPE pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the “SEC”). JPE will also grant the underwriters an option to purchase up to an additional 2,062,500 common units at the initial public offering price. JPE’s common units have been approved for listing on the New York Stock Exchange, subject to official notice of issuance, and will trade under the ticker symbol “JPEP.”
The common units being offered to the public represent an approximate 37.7% limited partner interest in JPE, or an approximate 43.4% limited partner interest if the underwriters exercise, in full, their option to purchase additional common units.
Barclays, BofA Merrill Lynch, RBC Capital Markets and Deutsche Bank Securities are acting as joint book-running managers for the offering, and BMO Capital Markets, Baird, Simmons & Company International, Stephens Inc., and Janney Montgomery Scott are acting as co-managers for the offering. The offering of these securities is being made only by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933. When available, a copy of the preliminary prospectus may be obtained from:
|Barclays Capital Inc.||BofA Merrill Lynch,|
|c/o Broadridge Financial Solutions||222 Broadway, New York, NY 10038|
|1155 Long Island Avenue||Attn: Prospectus Department|
|Edgewood, NY 11717|
|RBC Capital Markets, LLC||Deutsche Bank Securities|
|Attn: Equity Syndicate||Attention: Prospectus Group|
|Three World Financial Center||60 Wall Street|
|200 Vesey St., 8th Floor||New York, New York 10005|
|New York, NY 10281-8089||Telephone: 800-503-4611|
|Telephone: (877) 822-4089||
When available, to obtain a copy of the preliminary prospectus free of charge, visit the SEC’s website at www.sec.gov.
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 the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About JP Energy Partners LP
JP Energy Partners LP is a Delaware limited partnership formed in May 2010 by members of its management and further capitalized in June 2011 by a fund managed by ArcLight Capital Partners, LLC to own, operate, develop and acquire a diversified portfolio of midstream energy assets. JPE’s operations currently consist of four business segments: (i) crude oil pipelines and storage, (ii) crude oil supply and logistics, (iii) refined products terminals and storage and (iv) NGL distribution and sales. Together JPE’s businesses provide midstream infrastructure solutions for the growing supply of crude oil, refined products and NGLs in the United States.
Forward looking statements
This press release may include forward-looking statements within the meaning of the federal securities laws. Statements that do not relate strictly to historical or current facts are forward-looking. These statements contain words such as “possible,” “if,” “will” and “expect” and involve risks and uncertainties including, among others, that JPE’s business plans may change as circumstances warrant and securities of JPE may not ultimately be offered to the public because of general market conditions or other factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in JPE’s prospectus and SEC filings. JPE undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
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