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Summit Midstream updates offer to exchange 9.5% series A preferreds
By Rebecca Melvin
Concord, N.H., Jan. 7 – Summit Midstream Partners, LP gave an update on its Dec. 14 offer to exchange its 9.5% series A fixed-to-floating rate cumulative redeemable perpetual preferred units, according to a press release on Friday.
The company is offering to exchange each preferred unit for 38 common units.
As of the close of business on Jan. 6, holders of 46,203, or 32.2%, of the preferred units have tendered their units. The total was little changed from 46,178, or 32.19%, of the preferred units for which there was agreement to tender under a support agreement.
The exchange offer expires at 11:59 p.m. ET on Jan. 12, unless the partnership extends the offer or terminates it earlier.
D.F. King & Co., Inc. is the information agent (866 811-1442, 212 269-5550, summitmidstream@dfking.com).
American Stock Transfer & Trust Co., LLC is the depositary for the exchange offer (877 248-6417, 718 921-8317).
Summit, based in Houston, is an owner and operator of midstream energy infrastructure assets.
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