Vanguard Natural Resources, LLC (NASDAQ: VNR) (the “Company”) today announced the closing of its previously announced public offering of 2,200,000 7.875% Series A Cumulative Redeemable Perpetual Preferred Units representing preferred equity interests in the Company (“Series A Preferred Units”) at a price of $25.00 per unit. The total of 2,520,000 Series A Preferred Units includes the 2,200,000 Series A Preferred Units and an additional 320,000 Series A Preferred Units purchased pursuant to the underwriters’ exercise of their option to purchase additional Series A Preferred Units. The Company intends to apply to have the Series A Preferred Units listed on The NASDAQ Global Select Market under the symbol VNRAP.
The Company intends to use the net proceeds from the offering of approximately $60.8 million, after deducting underwriting discounts and estimated offering expenses, to repay a portion of its indebtedness outstanding under its senior secured revolving credit facility.
Barclays, Credit Suisse, Stifel and MLV & Co. are joint book-running managers for the offering. An investor may obtain a free copy of the prospectus supplement and accompanying base prospectus relating to the offering by visiting EDGAR on the SEC website at www.sec.gov. When available, a copy of the prospectus supplement and accompanying base prospectus relating to the offering also may be obtained from:
Barclaysc/o Broadridge Financial Solutions1155 Long Island Ave.Edgewood, NY 11717Email: email@example.comPhone: (888) 603-5847Credit SuisseAttn: Prospectus DepartmentOne Madison AvenueNew York, NY 10010Email: firstname.lastname@example.orgPhone: (800) 221-1037 StifelAttn: Syndicate DepartmentOne South Street, 15th FloorBaltimore, MD 21202Phone: (855) 300-7136 MLV & Co.Attn: Randy Billhardt1251 Avenue of the Americas, 41st FloorNew York, NY 10020Phone: (212) 542-5882 The shelf registration statement, as amended, relating to these securities has previously been filed with the Securities and Exchange Commission (the “SEC”) and automatically deemed effective. This press release does not constitute an offer to sell or a solicitation of an offer to buy Series A Preferred Units or any other securities, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering of these securities may be made only by means of the prospectus supplement and the related base prospectus.
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