CrossTex Energy Sells 5.7M Units to Kayne Anderson Funds
The Crosstex Energy companies, Crosstex Energy, L.P. (NASDAQ: XTEX) (the Partnership) and Crosstex Energy, Inc. (NASDAQ: XTXI) (the Corporation), today announced that the Partnership has agreed to sell approximately 5.7 million common units to funds managed by Kayne Anderson Capital Advisors, L.P., a current Crosstex Energy, L.P. unitholder. Net proceeds from the issuance, after deducting expenses associated with the issuance, will be approximately $75 million. After completion of the offering, the Partnership will have approximately 66.7 million common units outstanding. Closing is scheduled for Friday, September 14, 2012.
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