Memorial Production Partners LP Announces Closing of Public Offering of Common Units
Memorial Production Partners LP (Nasdaq: MEMP) announced the closing of its previously announced public offering of 10,500,000 common units representing limited partner interests in MEMP at a price to the public of $17.00 per unit. An additional 1,575,000 units could be sold to the underwriters pursuant to their 30-day option to purchase additional units.
MEMP intends to use the net proceeds from the offering, including its general partner's proportionate capital contribution and after deducting underwriting discounts but before offering expenses, of approximately $171.5 million, and any additional net proceeds from the exercise of the underwriters' option, to fund a portion of the purchase price for MEMP's recently announced acquisition of oil and natural gas properties.
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