Atlas Resource Partners Sliding After Disclosing Plans to Sell Up to 8 Million Equity Units

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Atlas Resource Partners L.P. ( ARP ) is down 0.87% to $23.85 in late trading after announcing plans to sell 6.8 million common equity units. Underwriters are expected to receive options to purchase an additional 1.2 million shares to cover any overallotments.

The company plans to use proceeds to fund a portion of its acquisition of oil & gas assets and undeveloped acreage in the Fort Worth Basin of Texas from DTE Energy. Proceeds may also be used for general partnership purposes, including repaying debt.

ARP trades within a 52-week range of $20 - $31.97.



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This article appears in: Investing , Commodities

Referenced Stocks: ARP

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