DALLAS--(BUSINESS WIRE)--Jan. 8, 2013--
Crosstex Energy, L.P. (NASDAQ: XTEX) (the Partnership) today announced
the commencement of an underwritten public offering of 7,500,000 common
units representing limited partner interests of the Partnership. The
Partnership will also grant the underwriters a 30-day option to purchase
up to 1,125,000 additional common units. Wells Fargo Securities, BofA
Merrill Lynch, Citigroup, Morgan Stanley and RBC Capital Markets will
act as joint book-running managers for the public offering.
Concurrent with the public offering, the Partnership intends to offer
2,700,000 common units to certain funds affiliated with Magnetar Capital
in a privately negotiated transaction.
The Partnership intends to use the net proceeds from these issuances,
including any net proceeds from the underwriters’ exercise of their
option pursuant to the public offering, for capital expenditures for
currently identified projects, including the Cajun-Sibon natural gas
liquids pipeline expansion, and for general partnership purposes.
When available, copies of the preliminary prospectus supplement,
prospectus supplement and accompanying base prospectus relating to the
public offering may be obtained free of charge on the Securities and
Exchange Commission’s website at www.sec.gov
or from the underwriters of the offering:
Wells Fargo Securities, Attn: Equity Syndicate Dept., 375 Park Avenue,
New York, NY 10152. By telephone (800) 326-5897 or by email firstname.lastname@example.org;
BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New
York, NY 10038. By email at email@example.com;
Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Ave.,
Edgewood, NY 11717. By email at firstname.lastname@example.org,
or Toll-Free: (800) 831-9146;
Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, New York 10014. By telephone (866) 718-1649 (toll
free) or (917) 606-8474 or by e-mailing email@example.com;
RBC Capital Markets, Attn: Equity Syndicate, Three World Financial
Center, 200 Vesey Street, 8th Floor, New York, NY 10281. By
telephone (877) 822-4089.
The common units to be issued pursuant to the public offering and the
direct placement will be offered and sold pursuant to an effective shelf
registration statement on Form S-3 previously filed with the Securities
and Exchange Commission. This press release does not constitute an offer
to sell or the solicitation of an offer to buy the securities described
herein, nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such jurisdiction. The offering is being made only by means
of a prospectus and related prospectus supplement meeting the
requirements of Section 10 of the Securities Act of 1933, as amended.
About the Crosstex Energy Companies
Crosstex Energy, L.P., a midstream natural gas company headquartered in
Dallas, operates approximately 3,500 miles of natural gas, natural gas
liquids and oil pipelines, 10 processing plants and four fractionators.
The Partnership also operates barge terminals, rail terminals, product
storage facilities, brine water disposal wells and an extensive truck
Crosstex Energy, Inc. owns combined general and limited partner
interests of approximately 22 percent and the incentive distribution
rights of Crosstex Energy, L.P.
This press release contains forward-looking statements. These
statements are based on certain assumptions made by the Partnership
based upon management’s experience and perception of historical trends,
current conditions, expected future developments and other factors the
Partnership believes are appropriate in the circumstances. These
statements include, but are not limited to, statements with respect to
the Partnership’s financial flexibility and prospects. Such
statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of the Partnership,
which may cause the Partnership’s actual results to differ materially
from those implied or expressed by the forward-looking statements. These
risks include, but are not limited to, risks discussed in the
Partnership’s filings with the Securities and Exchange Commission. We
therefore caution you against relying on any of these forward-looking
statements. The Partnership has no obligation to publicly update
or revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
Source: Crosstex Energy, L.P.
Crosstex Energy, L.P.
Jill McMillan, 214-721-9271
Public & Industry Affairs