DALLAS--(BUSINESS WIRE)--Jan. 12, 2004--Crosstex Energy Inc.
(NasdaqNM:XTXI) today announced it had priced the initial public
offering of 2,306,000 shares of its common stock at a price of $19.50
per share. All of the 2,306,000 shares of common stock to be sold in
the initial public offering will be offered by certain existing
stockholders of Crosstex Energy Inc. Crosstex will not receive any
proceeds from the sale of the shares of common stock by any selling
The shares of common stock are scheduled to begin trading on
Tuesday, Jan. 13 on the Nasdaq National Market under the symbol
"XTXI." The transaction is scheduled to close on Friday, Jan. 16,
A.G. Edwards & Sons Inc. acted as lead manager and Raymond James
and RBC Capital Markets acted as co-managers. Crosstex has granted the
underwriters a 30-day option to purchase up to 345,900 additional
shares of common stock to cover over-allotments, if any, the proceeds
of which would go to Crosstex.
Crosstex Energy Inc. owns and controls the general partner of
Crosstex Energy, L.P. (NasdaqNM:XTEX), a publicly-traded limited
partnership engaged in the gathering, transmission, treating,
processing and marketing of natural gas, and a 54.3% limited partner
interest in Crosstex Energy, L.P.
This press release is not an offer to sell, nor the solicitation
of an offer to buy, any securities. Any offer will be made by means of
a prospectus. A copy of the prospectus can be obtained from A.G.
Edwards & Sons at: One North Jefferson, St. Louis, Missouri, 63103,
telephone number 314-955-3000.
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements other than statements of historical facts included or
incorporated herein may constitute forward-looking statements.
Although Crosstex believes that the expectations reflected in the
forward-looking statements are reasonable, it can give no assurance
that such expectations will prove to be correct.
CONTACT: Crosstex Energy Inc.
Barry E. Davis or William W. Davis, 214-953-9500
SOURCE: Crosstex Energy Inc.