Suburban Propane Partners Prices 2.7 Million Unit Offering; Stock Falls 5%

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Suburban Propane Partners, L.P. ( SPH ) said its public offering of 2.7 million common units representing limited partner interests in Suburban was priced at $48.16 per common unit to the public.

The total net proceeds will be approximately $124.6 million (or approximately $143.4 million if the underwriters exercise in full their option to purchase 405,000 additional common units). Suburban expects the delivery of the common units to occur on May 17, 2013, subject to customary closing conditions.

SPH is down 4.7% to $47.71. Shares have a day range of $47.40 - $47.91, with a 52-week spread of $34.58 - $50.25.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities


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