|By PR Newswire||
|September 19, 2012 07:23 PM EDT||
HOUSTON, Sept. 19, 2012 /PRNewswire/ -- Susser Petroleum Partners LP, a Delaware limited partnership, announced today that it has priced its initial public offering of 9,500,000 common units representing limited partner interests in Susser Petroleum Partners at $20.50 per common unit. The common units will trade on the New York Stock Exchange under the symbol SUSP beginning on September 20. The offering is expected to close on September 25, subject to customary closing conditions. The underwriters have been granted a 30-day option to purchase up to an additional 1,425,000 common units.
Upon the conclusion of the offering, the public will own a 43.4% limited partner interest in Susser Petroleum Partners, or a 49.9% limited partner interest if the underwriters exercise their option to purchase additional common units in full.
Susser Petroleum Partners was formed by Susser Holdings Corporation (NASDAQ: SUSS) to engage in the primarily fee-based wholesale distribution of motor fuels to Susser Holdings and third parties.
BofA Merrill Lynch, Barclays, Wells Fargo Securities and UBS Investment Bank are acting as joint book-running managers for the offering.
RBC Capital Markets, Raymond James, BMO Capital Markets, Baird and Janney Montgomery Scott are acting as co-managers for the offering.
This offering of common units will be made only by means of a prospectus. A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, when available, may be obtained from the offices of:
BofA Merrill Lynch
222 Broadway, 7th Floor
New York, NY 10038
Attn: Prospectus Department
Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park Avenue
New York, NY 10152
Phone: (800) 326-5897
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Toll free: (888) 603-5847
UBS Investment Bank
299 Park Avenue
New York, NY 10171
Phone: (888) 827-7275
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. The registration statement is available on the SEC's web site at http://www.sec.gov under the registrant's name, "Susser Petroleum Partners LP." This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Susser Petroleum Partners LP
Houston-based Susser Petroleum Partners LP is a master limited partnership formed by Susser Holdings Corporation to engage in the primarily fee-based wholesale distribution of motor fuels to Susser Holdings and third parties. Susser Petroleum Partners distributes over 1.4 billion gallons of motor fuel annually from major oil companies and independent refiners to Susser Holdings' Stripes® convenience stores, independently operated consignment locations, convenience stores and retail fuel outlets operated by independent operators and other commercial customers in Texas, New Mexico, Oklahoma and Louisiana.
This news release contains "forward-looking statements" which are based on current plans and expectations and involve a number of risks and uncertainties that could cause actual results and events to vary materially, including but not limited to the inability to complete the initial public offering. For a full discussion of these risks and uncertainties, please refer to the "Risk Factors" section of the Registration Statement on Form S-1 initially filed by Susser Petroleum Partners on June 22, 2012 and the information included in subsequent amendments and other filings. These forward-looking statements are based on and include our expectations as of the date hereof. Subsequent events and market developments could cause our expectations to change. While we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if new information becomes available, except as may be required by applicable law.
Susser Petroleum Partners LP
Mary Sullivan, Chief Financial Officer
(832) 234-3600, email@example.com
SOURCE Susser Petroleum Partners LP; Susser Holdings