Deal Details
Follow-On Offering
Summary
Baird served as a co-manager on this offering.
About
Hi-Crush Partners, LP (“Hi-Crush Partners” or the “Partnership”) (NYSE: HCLP) recently completed a follow-on offering of 3,750,000 common units at a price of $62.91 per unit, generating gross proceeds of approximately $235.9 million. The Partnership will not receive any proceeds from the sale of the common units by the selling unitholders.Hi-Crush is an integrated producer, transporter, marketer and distributor of high-quality monocrystalline sand, a specialized mineral that is used as a "proppant" (frac sand) to enhance the recovery rates of hydrocarbons from oil and natural gas wells. The Partnership’s reserves, which are located in Wisconsin, consist of "Northern White" sand, a resource that exists predominately in Wisconsin and limited portions of the upper Midwest region of the United States. Hi-Crush owns and operates the largest distribution network in the Marcellus and Utica shales and has distribution capabilities throughout North America. The Partnership is headquartered in Houston, Texas.
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- Date
- August 2014
- Company
- Hi-Crush Partners, LP
- Transaction
- M&A
- Sectors
- Energy
- Target Geography
- North America
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