Southcross Energy Partners LP (NYSE: SXE) closed its public offering of 9,200,000 common shares, worth $16.50 each, the company said Feb. 5, adding that the amount includes 1,200,000 common shares in the underwriters’ option.
The underwriters’ option included a contribution from the company’s general partner, Southcross noted.
The net proceeds, of roughly $148.5 million, will fund the new Webb pipeline and support general partnership purposes, including future acquisitions, the company said. Southcross will temporarily repay borrowings under its revolving credit until such use, the company noted.
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