AUSTIN, Texas--(BUSINESS WIRE)--May 13, 2014--
USA Compression Partners, LP (NYSE: USAC) (the “Partnership”) announced
today the launch of an underwritten public offering of 6,600,000 common
units representing limited partner interests in the Partnership, of
which 5,600,000 common units are being offered by the Partnership and
1,000,000 common units are being offered by certain selling unitholders
(the “Selling Unitholders”) pursuant to an effective shelf registration
statement on Form S-3 previously filed with the Securities and Exchange
Commission (the “SEC”). The underwriters are expected to be granted a
30-day option to purchase up to an additional 990,000 common units from
certain of the Selling Unitholders to cover over-allotments.
The Partnership intends to use the net proceeds from the offering to
reduce indebtedness outstanding under its revolving credit facility and
for general partnership purposes. The Partnership will not receive any
proceeds from the common units sold by the Selling Unitholders.
Wells Fargo Securities, Barclays, Goldman, Sachs & Co., J.P. Morgan and
UBS Investment Bank are acting as joint book-running managers for the
offering. Raymond James, RBC Capital Markets, Regions Securities LLC and
Scotia Capital (USA) Inc. are acting as co-managers.
The offering of these securities is being made only by means of the
prospectus supplement and accompanying base prospectus as filed with the
SEC. When available, copies of the preliminary prospectus supplement and
accompanying base prospectus relating to the offering may be obtained
free of charge on the SEC’s website at www.sec.gov
under the Partnership’s name or from the underwriters of the offering as
follows:
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Wells Fargo Securities
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Barclays
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Attn: Equity Syndicate Dept.
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c/o Broadridge Financial Solutions
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375 Park Avenue
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1155 Long Island Avenue
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New York, New York 10152
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Edgewood, New York 11717
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cmclientsupport@wellsfargo.com
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barclaysprospectus@broadridge.com
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(800) 326-5897
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(888) 603-5847
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Goldman, Sachs & Co.
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J.P. Morgan
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Attn: Prospectus Department
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c/o Broadridge Financial Solutions
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200 West Street
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1155 Long Island Avenue
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New York, New York 10282
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Edgewood, New York 11717
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(866) 471-2526
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(866) 803-9204
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UBS Securities LLC
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Attn: Prospectus Department
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299 Park Avenue
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New York, NY 10171
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(888) 827-7275
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This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described above, nor
shall there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such state or
jurisdiction. The offer is being made only through the prospectus as
supplemented, which is part of the Registration Statement.
ABOUT USA COMPRESSION PARTNERS, LP
USA Compression Partners, LP is a growth-oriented Delaware limited
partnership that is one of the nation’s largest independent providers of
compression services in terms of total compression unit horsepower. The
Partnership partners with a broad customer base composed of producers,
processors, gatherers and transporters of natural gas and crude oil. The
Partnership focuses on providing compression services to infrastructure
applications primarily in high volume gathering systems, processing
facilities and transportation applications.
FORWARD-LOOKING STATEMENTS
Statements in this press release may be forward-looking statements as
defined under federal law. These forward-looking statements rely on a
number of assumptions concerning future events and are subject to a
number of uncertainties and factors, many of which are outside the
control of the Partnership, and a variety of risks that could cause
results to differ materially from those expected by management of the
Partnership. The Partnership undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results over time.
Source: USA Compression Partners, LP
USA Compression Partners, LP
Joseph C. “Jody” Tusa, Jr.,
512-473-2662
Chief Financial Officer
jtusa@usacompression.com
or
Matthew
C. Liuzzi, 512-473-2662
SVP – Strategic Development
mliuzzi@usacompression.com
