ECA Marcellus Trust I (NYSE:ECT) today announced that it has priced its public offering of 2,525,000 common units representing beneficial interests in ECT currently held by Energy Corporation of America (ECA). ECA has granted the underwriters a 30-day option to purchase up to 360,723 additional common units. The common units were offered to the public at $29.35 per unit. The offering is expected to settle and close on April 15, 2011, subject to customary closing conditions. ECT will not receive any of the proceeds from the offering.
Citi is acting as sole book-running manager for the offering. The offering will be made only by means of a prospectus, copies of which may be obtained from Citi, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, Attention: Prospectus Dept., or by calling (877) 858-5407 or by emailing BATProspectusdept@citi.com. An electronic copy of the prospectus and prospectus supplement is available from the U.S. Securities and Exchange Commission’s website at www.sec.gov.
The common units are being offered pursuant to an effective registration statement that ECT and ECA have filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the common units or any other securities, nor shall there be any sale of the common units or any other securities in any state or jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities law in such state or jurisdiction.
This press release contains statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of these provisions. These forward looking statements include the anticipated closing of the offering. Important factors that could cause actual results to differ materially from those contemplated by any such forward-looking statements include all of the factors and risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2010. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither ECA nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in Common Units issued by ECA Marcellus Trust I is subject to the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2010, and all of its other filings with the Securities and Exchange Commission. The Trust’s annual, quarterly and other filed reports are or will be available over the Internet at the SEC’s web site at