Deal Details
Follow-On Offering
Summary
Baird served as a co-manager on this offering.
About
Rose Rock Midstream, L.P. (“Rose Rock Midstream” or the “Partnership”) (NYSE: RRMS) recently completed a follow-on offering of 2,300,000 common units at a price of $40.32 per unit, generating gross proceeds of $92.7 million. The Partnership intends to use the net proceeds from the offering to fund a portion of its pending acquisition of the remaining crude oil assets, which includes the Wattenberg Oil Trunkline and 50% ownership of Glass Mountain Pipeline, from its parent, SemGroup Corporation (“SemGroup”) (NYSE: SEMG).Rose Rock Midstream is a growth-oriented limited partnership formed by SemGroup to own, operate, develop and acquire a diversified portfolio of midstream energy assets. The Partnership provides crude oil gathering, transportation, storage and marketing services with the majority of its assets strategically located in or connected to the Cushing, Oklahoma, crude oil marketing hub. Rose Rock Midstream is headquartered in Tulsa, Oklahoma.
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- Date
- February 2015
- Company
- Rose Rock Midstream LP
- Transaction
- M&A
- Sectors
- Energy
- Target Geography
- North America
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