Mid-Con Energy Partners LP (Nasdaq: MCEP) announced the closing of its public offering of 4 million common units representing limited partner interests in Mid-Con Energy at a price to the public of $21.20 per unit. 1 million common units were sold by Mid-Con Energy, and 3 million common units were sold by Yorktown Energy Partners VI LP, Yorktown Energy Partners VII LP and Yorktown Energy Partners VIII LP.
Additionally, the underwriters exercised in full their option to purchase an additional 600,000 common units from the Yorktown entities, the closing of which occurred simultaneously.
Mid-Con Energy intends to use net proceeds of approximately $20.4 million from its 1 million common unit offering, after deducting underwriting discounts but before offering expenses, to repay borrowings outstanding under its credit facility. Mid-Con Energy did not receive any proceeds from the 3.6 million common units sold by the Yorktown entities.
RBC Capital Markets, LLC, Raymond James & Associates, Inc., UBS Securities LLC and Wells Fargo Securities, LLC acted as joint book-running managers. Robert W. Baird & Co. Incorporated, Oppenheimer & Co. and Stephens Inc. acted as co-managers for the offering.
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