Memorial Production Closes Public Offering of Common Units; Shares Steady Late
Memorial Production Partners LP ( MEMP ) has closed its previously announced public offering of common units representing limited partner interests in MEMP. Including the underwriters' option to purchase additional common units, which was exercised in full, MEMP sold a total of 9,775,000 common units at a price to the public of $18.35 per common unit.
MEMP intends to use the net proceeds from the offering of approximately $172.6 million to fund a portion of the purchase price for MEMP's recently announced pending acquisition of oil and natural gas properties.
MEMP closed the day at $19.25 in a 52-week range of $15.71 - $20.75.
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