Black Stone Minerals provides results of cash tender offer

Black Stone Minerals LP (NYSE: BSM) has provided the final results of its cash tender offer to purchase up to 100% of the 117,963 outstanding Series A preferred units from its preferred unitholders at the units’ par value of $1,000.00 per preferred unit, plus unpaid accrued yield. The tender offer expired at 5 p.m., New York City time, on Dec. 10.

BSM has accepted for purchase 44,295 preferred units, representing 37.55% of its outstanding preferred units, at a purchase price of $1,019.45 per preferred unit for a total cost of $45.2 million, excluding fees and expenses relating to the tender offer. BSM is funding the purchase of preferred units in the tender offer with cash on hand and funds available under its revolving credit facility. BSM intends to cancel and retire the preferred units purchased pursuant to the tender offer.

American Stock Transfer and Trust Co. LLC, the depositary for the tender offer, will promptly issue payment for the preferred units accepted for purchase in the tender offer.

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