EQT Midstream Partners, LP, a Delaware limited partnership (the Partnership) and an EQT Corporation company, today announced it has priced its initial public offering (IPO) of 12,500,000 common units representing limited partner interests at $21.00 per common unit. The underwriters have been granted a 30-day option to purchase up to an additional 1,875,000 common units at the IPO price, less underwriting discounts to cover allotments, if any. The common units of the Partnership will begin trading on June 27, 2012 on the New York Stock Exchange, under the symbol EQM. The offering will close on July 2, 2012, subject to customary closing conditions.
Upon conclusion of the offering, the public ownership will represent a 35.3% limited partner interest in the Partnership, or 40.6% limited partner interest if the underwriters exercise their over-allotment option in full. EQT Corporation will hold the 2% general partner interest and a 62.7% limited partner interest in the Partnership, or 57.4% if the underwriters exercise their over-allotment option in full.
The net proceeds from any exercise of the underwriters’ option to purchase additional common units will be distributed to EQT Corporation. Citigroup, Barclays, BofA Merrill Lynch, Credit Suisse, J.P. Morgan and Wells Fargo Securities are acting as joint book-running managers for the offering. Deutsche Bank Securities, Goldman, Sachs & Co. and RBC Capital Markets are acting as co-managers for the offering.
This offering of common units will be made only by means of a prospectus. A written prospectus, which meets the requirements of Section 10 of the Securities Act of 1933, may be obtained through:
|Brooklyn Army Terminal Financial||c/o Broadridge Financial Solutions|
|Attention: Prospectus Dept.||1155 Long Island Avenue|
|140 58th Street, 8th Floor,||Edgewood, NY 11717|
|Brooklyn, NY 11220||Telephone: 1-888-603-5847|
|BofA Merrill Lynch||Credit Suisse|
|222 Broadway, 7 th Floor||Attention: Prospectus Department|
|New York, NY 10038||One Madison Avenue|
|Attention: Prospectus Department||New York, NY 10010|
|J.P. Morgan||Wells Fargo Securities|
|via Broadridge Financial Solutions||375 Park Avenue|
|1155 Long Island Avenue||New York, NY 10152|
|Edgewood, NY 11717||Attention: Equity Syndicate Dept.|
|Telephone: 1-866-803-9204||Telephone: 1-800-326-5897|