Initial Public Offering

Energy
Initial Public Offering

Summary

Baird served as a joint-bookrunner on this offering

About

Antero Midstream GP LP (the “Partnership”) (NYSE: AMGP) recently completed an initial public offering of 37,250,000 common shares at a price of $23.50 per share, generating gross proceeds of approximately $875.4 million. All of the common shares sold were offered by the selling shareholder, and the Partnership did not receive any of the net proceeds from the offering. This offering represents the first IPO of an MLP’s general partner in two years.

Antero Midstream GP LP, a Delaware limited partnership, owns the general partner of Antero Midstream Partners LP (“Antero Midstream”) (NYSE: AM) and incentive distribution rights in Antero Midstream and has elected to be classified as an entity taxable as a corporation for United States federal income tax purposes. The Partnership is headquartered in Denver, Colorado.

Antero Midstream is a growth-oriented master limited partnership 59% owned by Antero Resources Corporation (“Antero Resources”) (NYSE: AR) that was formed to own, operate and develop midstream energy infrastructure primarily to service Antero Resources’ rapidly increasing production and completion activity in the Appalachian Basin’s Marcellus Shale and Utica Shale located in West Virginia and Ohio. Antero Midstream is headquartered in Denver, Colorado.
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Energy
Initial Public Offering
Date
May 2017
Company
Antero Midstream GP LP
Transaction
M&A
Sectors
Energy
Target Location
North America

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