This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Western Gas Equity Partners, LP Announces Closing Of Initial Public Offering And Full Exercise Of Underwriters’ Option To Purchase Additional Common Units

Stocks in this article: WESWGP

Western Gas Equity Partners, LP announced that it has closed its initial public offering of 17,181,000 common units representing limited partner interests in Western Gas Equity Partners at a price of $22.00 per common unit. In connection with the offering, the underwriters exercised in full their option to purchase an additional 2,577,150 common units from Western Gas Equity Partners. As a result, the total initial public offering size was 19,758,150 common units. Western Gas Equity Partners used the net proceeds from the offering to purchase from Western Gas Partners, LP (“WES”) 8,722,966 common units representing limited partner interests in WES at a price of $46.00 per unit, and make a corresponding capital contribution to WES, on behalf of Western Gas Holdings, LLC (“WES GP”), to allow WES GP to maintain its 2.0% general partner interest in WES.

Western Gas Equity Partners is a Delaware master limited partnership formed to own three types of partnership interests in WES (NYSE: WES), a publicly traded limited partnership. WES is a growth-oriented Delaware master limited partnership organized by Anadarko Petroleum Corporation (NYSE: APC) to own, operate, acquire and develop midstream energy assets. Western Gas Equity Partners’ only cash-generating assets consist of partnership interests in WES.

Barclays, Citigroup, Deutsche Bank Securities and Morgan Stanley acted as joint book-running managers for the offering. The offering was made only by means of a prospectus, copies of which may be obtained from:

Barclays       Citigroup
c/o Broadridge Financial Solutions c/o Broadridge Financial Solutions
1155 Long Island Ave. 1155 Long Island Ave.
Edgewood, NY 11717 Edgewood, NY 11717

barclaysprospectus@broadridge.com

batprospectusdept@citi.com

Toll-Free: (888) 603-5847 Toll-Free: (800) 831-9146
 
Deutsche Bank Securities Morgan Stanley
60 Wall Street Attention: Prospectus Department
New York, NY 10005-2836 180 Varick Street, 2 nd Floor
Attention: Prospectus Group New York, NY 10014

prospectus.CPDG@db.com

prospectus@morganstanley.com

Toll-Free: (800) 503-4611 Toll-Free: (866) 718-1649
 

An electronic copy of the prospectus may be obtained from the Securities and Exchange Commission’s (the “SEC”) website at www.sec.gov.

A registration statement relating to these securities has been filed with, and declared effective by, the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs