DALLAS - Energy Transfer LP (NYSE: NYSE:ET), a major player in the U.S. energy sector, has set the price for a secondary public offering of its common units. The offering, which is not for the benefit of the company itself but for certain selling unitholders, has been priced at $15.78 per unit, with a total of 38,755,996 common units up for sale.
WTG Midstream LLC and an affiliate of Stonepeak, referred to as the Selling Unitholders, are the ones divesting their shares and will receive all proceeds from the offering. Energy Transfer will not receive any proceeds as it is not selling any units in this transaction. Affiliated purchasers, including certain officers and directors of Energy Transfer's general partner LE GP, LLC, have committed to buying 3,040,000 common units at the same price offered to the public.
Barclays is acting as the underwriter for the offering, which is expected to close on August 12, 2024, provided all customary closing conditions are met. The offering is being made following a registration statement with the U.S. Securities and Exchange Commission (SEC), which became effective on July 31, 2024.
Prospective investors can obtain copies of the prospectus and prospectus supplement from Barclays Capital Inc., or by accessing the SEC's website. This press release does not serve as an offer to sell or a solicitation of an offer to buy the securities.
Energy Transfer boasts a vast network of energy assets across the United States, with over 130,000 miles of pipeline infrastructure. The company's portfolio includes a variety of operations, from natural gas midstream and transportation to NGL fractionation. It also has interests in Sunoco LP (NYSE: SUN) and USA Compression (NYSE:USAC) Partners, LP (NYSE: USAC).
This news is based on a press release statement and includes forward-looking statements that are subject to various risks and uncertainties. Investors are cautioned not to place undue reliance on these statements, which speak only as of their dates.
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