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
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