Crosstex Energy LP (Nasdaq: XTEX) has priced its underwritten public offering of 7.5 million common units representing limited partner interests of the partnership at US $15.15 per unit.
The partnership will also grant the underwriters a 30-day option to purchase up to some 1.1 million additional common units. Wells Fargo Securities, BofA Merrill Lynch, Citigroup, Morgan Stanley and RBC Capital Markets are joint book-running managers.
Concurrent with the public offering, the partnership intends to offer 2.7 million common units to certain funds affiliated with Magnetar Capitalin a privately negotiated transaction.
Net proceeds will be used for capital expenditures for currently identified projects, including the Cajun-Sibon natural gas liquids pipeline expansion, and for general partnership purposes.
Crosstex Energy LP a midstream natural gas company headquartered in Dallas.