Inergy Midstream LP (NYSE: NRGM) priced an underwritten public offering of 11 million common units at $22.50 per unit.
Inergy Midstream has also granted the underwriters a 30-day option to purchase up to some 1.7 million additional units. The offering is expected to close on Sept. 13, subject to customary closing conditions.
Net proceeds will be used to repay borrowings under its revolving credit facility, with remaining proceeds to be used for ongoing expansion projects in its midstream business and for general partnership purposes.
Inergy Midstream LP develops, acquires, owns, ...