LEVITTOWN, Pa., Feb. 3, 2011 (GLOBE NEWSWIRE) -- StoneMor Partners L.P. (Nasdaq:STON) ("StoneMor") announced today that it has priced 4,874,366 common units representing limited partner interests in StoneMor at a price to the public of $29.25 per unit. The offering was increased from the previously announced level by 225,000 common units to be sold by StoneMor. Of the 4,874,366 common units, StoneMor is selling 3,025,000 common units and certain unitholders are selling 1,849,366 common units. StoneMor expects the offering to close on February 9, 2011, subject to customary closing conditions and as described below. StoneMor expects to receive net proceeds of approximately $85.0 million, after deducting the underwriting discount and offering expenses in connection with this offering and including the general partner's proportionate capital contribution of approximately $1.8 million. StoneMor will not receive any proceeds from the sale of common units by the selling unitholders. StoneMor has granted the underwriters a 30-day option to purchase up to 731,155 additional common units to cover over-allotments, if any.
StoneMor Partners L.P. Prices Upsized Public Offering Of Common Units
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.