LEVITTOWN, Pa., March 20, 2013 (GLOBE NEWSWIRE) -- StoneMor Partners L.P. (NYSE:STON) ("StoneMor") announced today a public offering, subject to market and other conditions, of 1,200,000 common units representing limited partner interests in StoneMor. In connection with the offering, StoneMor intends to grant the underwriters a 30-day option to purchase up to 180,000 additional common units to cover over-allotments, if any. StoneMor intends to use the net proceeds from the common units it is offering to pay down the borrowings outstanding under its existing credit facility. If the underwriters exercise their option to purchase additional common units, StoneMor will use the additional net proceeds to pay down borrowings outstanding under its credit facility.
The offering may be made only by means of a prospectus supplement and accompanying base prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The offering will be made pursuant to an effective shelf registration statement, which was previously filed by StoneMor with the Securities and Exchange Commission, and a prospectus supplement and accompanying base prospectus, which will be filed by StoneMor with the Securities and Exchange Commission. Raymond James and Janney Montgomery Scott are the underwriters of the offering.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.A copy of the prospectus supplement and accompanying base prospectus relating to these securities may be obtained, when available, from Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716 or by telephone at (727) 567-2400. An electronic copy of the preliminary prospectus supplement and accompanying base prospectus may also be obtained at no charge at the Securities and Exchange Commission's website at www.sec.gov . About StoneMor Partners L.P. StoneMor Partners L.P., headquartered in Levittown, Pennsylvania, is an owner and operator of cemeteries and funeral homes in the United States, with 276 cemeteries and 92 funeral homes in 28 states and Puerto Rico. StoneMor is the only publicly traded death care company structured as a partnership. StoneMor's cemetery products and services, which are sold on both a pre-need (before death) and at-need (at death) basis, include: burial lots, lawn and mausoleum crypts, burial vaults, caskets, memorials, and all services which provide for the installation of this merchandise.