Crestwood Announces Pricing of Secondary Offering of Common Units and Concurrent Common Unit Repurchase
Crestwood is not offering any of its common units in the Public Offering and will not receive any proceeds from the Public Offering.
- Crestwood is not offering any of its common units in the Public Offering and will not receive any proceeds from the Public Offering.
- As previously announced, Crestwood also entered into a common unit repurchase agreement with one of the Selling Unitholders pursuant to which it intends to repurchase up to an aggregate of $125 million of common units from such Selling Unitholder (the "Unit Repurchase").
- The price per common unit to be paid by Crestwood will equal the price at which the common units will be sold to the public in the Public Offering.
- Although the Unit Repurchase is conditioned upon, among other things, the closing of the Public Offering, the closing of the Public Offering is not conditioned upon the closing of the Unit Repurchase.