New Source offers Series A cumulative convertible preferred units

New Source Energy Partners LP (NYSE: NSLP) has begun a public offering of $40 million of Series A cumulative convertible preferred units pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission. 

The Partnership will grant the underwriters a 30-day option to purchase up to 15% additional Series A preferred units. New Source intends to use all of the net proceeds from the offering to repay a portion of the indebtedness outstanding under the company's revolving credit facility.

Stifel is serving as lead book-running manager and Baird is serving as joint book-running manager for the offering. Janney Montgomery Scott, Oppenheimer & Co. and Wunderlich Securities are serving as co-leads for the offering. 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...