{"id":472436,"date":"2021-04-07T06:48:18","date_gmt":"2021-04-07T10:48:18","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=472436"},"modified":"2021-04-07T06:48:18","modified_gmt":"2021-04-07T10:48:18","slug":"summit-midstream-partners-lp-announces-extension-of-expiration-date-in-series-a-preferred-unit-exchange-offer","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/summit-midstream-partners-lp-announces-extension-of-expiration-date-in-series-a-preferred-unit-exchange-offer\/","title":{"rendered":"Summit Midstream Partners, LP Announces Extension of Expiration Date in Series A Preferred Unit Exchange Offer"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">HOUSTON<\/span>, <span class=\"xn-chron\">April 7, 2021<\/span> \/PRNewswire\/ &#8212; Summit Midstream Partners, LP (NYSE: SMLP) (the &#8220;Partnership&#8221;) announced today that it has amended its offer to exchange (the &#8220;Exchange Offer&#8221;) its 9.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (Liquidation Preference <span class=\"xn-money\">$1,000<\/span>) (the &#8220;Series A Preferred Units&#8221;) tendered in the Exchange Offer for up to 2,400,000 newly issued common units representing limited partner interests in the Partnership (the &#8220;Common Units&#8221;). The Partnership has extended the expiration date of the Exchange Offer to <span class=\"xn-chron\">11:59 p.m.<\/span>, <span class=\"xn-location\">New York City<\/span> time, on <span class=\"xn-chron\">April 13, 2021<\/span> (the &#8220;Expiration Date&#8221;), unless further extended. The Partnership will issue Common Units in exchange for Series A Preferred Units that are accepted for exchange promptly after the Expiration Date. As of <span class=\"xn-chron\">11:59 p.m.<\/span>, <span class=\"xn-location\">New York City<\/span> time, on <span class=\"xn-chron\">April 6, 2021<\/span>, based on preliminary information provided by American Stock Transfer &amp; Trust Company, LLC, the depositary for the Exchange Offer (the &#8220;Depositary&#8221;), 23,912 Series A Preferred Units were properly tendered (and not validly withdrawn) in the Exchange Offer. The Exchange Offer is still conditioned on, among other things, that holders of at least 15,000 Series A Preferred Units properly tender (and do not validly withdraw) their Series A Preferred Units prior to the expiration date of the Exchange Offer. There are no other material changes to the Exchange Offer.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/74903\/summit_midstream_partners_logo.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/74903\/summit_midstream_partners_logo.jpg\" title=\"Summit Midstream Partners Logo. (PRNewsFoto\/Summit Midstream Partners)\" alt=\"Summit Midstream Partners Logo. (PRNewsFoto\/Summit Midstream Partners)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>The complete terms and conditions of the Exchange Offer are set forth in the Offer to Exchange and related Letter of Transmittal, as amended and supplemented, that are filed with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;) under cover of Schedule TO. Copies of the Offer to Exchange and Letter of Transmittal may be found on the SEC&#8217;s website at\u00a0www.sec.gov,\u00a0the Partnership&#8217;s website at <a href=\"http:\/\/www.summitmidstream.com\" rel=\"nofollow\">www.summitmidstream.com<\/a> or may be obtained from the Information Agent, <span class=\"xn-person\">D.F. King<\/span> &amp; Co., Inc., at 800-967-5071 (toll free) for unitholders, 212-269-5550 for banks and brokers or <a href=\"mailto:summitmidstream@dfking.com\" rel=\"nofollow\">summitmidstream@dfking.com<\/a>. The Depositary\u00a0can be contacted at 877-248-6417 (toll free) or 718-921-8317.<\/p>\n<p>\n        <b>THIS PRESS RELEASE IS NEITHER AN OFFER TO PURCHASE NOR A SOLICITATION OF AN OFFER TO SELL ANY SERIES A PREFERRED UNITS, NOR IS IT AN OFFER TO SELL OR A SOLICITATION TO BUY ANY COMMON UNITS. THIS PRESS RELEASE IS NOT A SOLICITATION FOR ACCEPTANCE OF THE EXCHANGE OFFER. THE PARTNERSHIP IS MAKING THE EXCHANGE OFFER ONLY BY, AND PURSUANT TO THE TERMS OF THE OFFER TO EXCHANGE, THE LETTER OF TRANSMITTAL AND OTHER RELATED DOCUMENTS FILED WITH THE SEC, AS AMENDED AND SUPPLEMENTED. THE EXCHANGE OFFER IS NOT BEING MADE IN ANY JURISDICTION IN WHICH THE MAKING OR ACCEPTANCE THEREOF WOULD NOT BE IN COMPLIANCE WITH THE SECURITIES, BLUE SKY OR OTHER LAWS OF SUCH JURISDICTION. NONE OF THE PARTNERSHIP, OUR GENERAL PARTNER, ITS BOARD OF DIRECTORS, OFFICERS OR EMPLOYEES, THE INFORMATION AGENT OR THE DEPOSITARY FOR THE EXCHANGE OFFER MAKES ANY RECOMMENDATION IN CONNECTION WITH THE EXCHANGE. THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER, SOLICITATION OR SALE IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE IS UNLAWFUL.<\/b>\n      <\/p>\n<p>\n        <b>About Summit Midstream Partners, LP <\/b>\n      <\/p>\n<p>SMLP is a value-driven limited partnership focused on developing, owning and operating midstream energy infrastructure assets that are strategically located in unconventional resource basins, primarily shale formations, in the continental United States.\u00a0 SMLP provides natural gas, crude oil and produced water gathering services pursuant to primarily long-term and fee-based gathering and processing agreements with customers and counterparties in six unconventional resource basins: (i) the Appalachian Basin, which includes the <span class=\"xn-location\">Utica<\/span> and Marcellus shale formations in <span class=\"xn-location\">Ohio<\/span> and <span class=\"xn-location\">West Virginia<\/span>; (ii) the <span class=\"xn-location\">Williston<\/span> Basin, which includes the Bakken and Three Forks shale formations in <span class=\"xn-location\">North Dakota<\/span>; (iii) the Denver-Julesburg Basin, which includes the <span class=\"xn-location\">Niobrara<\/span> and Codell shale formations in <span class=\"xn-location\">Colorado<\/span> and <span class=\"xn-location\">Wyoming<\/span>; (iv) the Permian Basin, which includes the Bone Spring and Wolfcamp formations in <span class=\"xn-location\">New Mexico<\/span>; (v) the <span class=\"xn-location\">Fort Worth<\/span> Basin, which includes the Barnett Shale formation in <span class=\"xn-location\">Texas<\/span>; and (vi) the Piceance Basin, which includes the Mesaverde formation as well as the <span class=\"xn-location\">Mancos<\/span> and <span class=\"xn-location\">Niobrara<\/span> shale formations in Colorado.\u00a0 SMLP has an equity investment in Double E Pipeline, LLC, which is developing natural gas transmission infrastructure that will provide transportation service from multiple receipt points in the <span class=\"xn-location\">Delaware<\/span> Basin to various delivery points in and around the Waha Hub in Texas.\u00a0 SMLP also has an equity investment in Ohio Gathering, which operates extensive natural gas gathering and condensate stabilization infrastructure in the Utica Shale in Ohio.\u00a0 SMLP is headquartered in <span class=\"xn-location\">Houston, Texas<\/span>.<\/p>\n<p>\n        <b>Forward-Looking Statements<\/b>\n      <\/p>\n<p>This press release includes certain statements concerning expectations for the future that are forward-looking within the meaning of the federal securities laws, including, without limitation, information concerning completion of the Offer to Exchange, the terms and timing of the Offer to Exchange, and the impact of completion of the Offer to Exchange. The Partnership may modify the terms or timing of the Offer to Exchange with requisite notice.\u00a0 Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements and may contain the words &#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;plan,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;believe,&#8221; &#8220;will be,&#8221; &#8220;will continue,&#8221; &#8220;will likely result,&#8221; and similar expressions, or future conditional verbs such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;would,&#8221; and &#8220;could.&#8221; \u00a0Forward-looking statements also contain known and unknown risks and uncertainties\u00a0(many of which are difficult to predict and beyond management&#8217;s\u00a0control) that may cause SMLP&#8217;s actual results in future periods to differ materially from anticipated or projected results.\u00a0 An extensive\u00a0list of specific material risks and uncertainties affecting SMLP is contained in its 2020 Annual Report on Form 10-K filed with the\u00a0Securities and Exchange Commission\u00a0on\u00a0March 4, 2021, as amended and updated from time to time. Any forward-looking statements in this press release, are made as of the date of this press release and SMLP undertakes\u00a0no obligation to update or revise any forward-looking statements to reflect\u00a0new information\u00a0or events.<\/p>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA34524&amp;sd=2021-04-07\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/summit-midstream-partners-lp-announces-extension-of-expiration-date-in-series-a-preferred-unit-exchange-offer-301263635.html\">http:\/\/www.prnewswire.com\/news-releases\/summit-midstream-partners-lp-announces-extension-of-expiration-date-in-series-a-preferred-unit-exchange-offer-301263635.html<\/a><\/p>\n<p>SOURCE  Summit Midstream Partners, LP<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DA34524&amp;Transmission_Id=202104070645PR_NEWS_USPR_____DA34524&amp;DateId=20210407\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire HOUSTON, April 7, 2021 \/PRNewswire\/ &#8212; Summit Midstream Partners, LP (NYSE: SMLP) (the &#8220;Partnership&#8221;) announced today that it has amended its offer to exchange (the &#8220;Exchange Offer&#8221;) its 9.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (Liquidation Preference $1,000) (the &#8220;Series A Preferred Units&#8221;) tendered in the Exchange Offer for up to 2,400,000 newly issued common units representing limited partner interests in the Partnership (the &#8220;Common Units&#8221;). The Partnership has extended the expiration date of the Exchange Offer to 11:59 p.m., New York City time, on April 13, 2021 (the &#8220;Expiration Date&#8221;), unless further extended. The Partnership will issue Common Units in exchange for Series A Preferred Units that are accepted for exchange promptly after the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/summit-midstream-partners-lp-announces-extension-of-expiration-date-in-series-a-preferred-unit-exchange-offer\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Summit Midstream Partners, LP Announces Extension of Expiration Date in Series A Preferred Unit Exchange Offer&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-472436","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Summit Midstream Partners, LP Announces Extension of Expiration Date in Series A Preferred Unit Exchange Offer - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/summit-midstream-partners-lp-announces-extension-of-expiration-date-in-series-a-preferred-unit-exchange-offer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Summit Midstream Partners, LP Announces Extension of Expiration Date in Series A Preferred Unit Exchange Offer - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire HOUSTON, April 7, 2021 \/PRNewswire\/ &#8212; Summit Midstream Partners, LP (NYSE: SMLP) (the &#8220;Partnership&#8221;) announced today that it has amended its offer to exchange (the &#8220;Exchange Offer&#8221;) its 9.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (Liquidation Preference $1,000) (the &#8220;Series A Preferred Units&#8221;) tendered in the Exchange Offer for up to 2,400,000 newly issued common units representing limited partner interests in the Partnership (the &#8220;Common Units&#8221;). The Partnership has extended the expiration date of the Exchange Offer to 11:59 p.m., New York City time, on April 13, 2021 (the &#8220;Expiration Date&#8221;), unless further extended. 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The Partnership has extended the expiration date of the Exchange Offer to 11:59 p.m., New York City time, on April 13, 2021 (the &#8220;Expiration Date&#8221;), unless further extended. The Partnership will issue Common Units in exchange for Series A Preferred Units that are accepted for exchange promptly after the &hellip; Continue reading \"Summit Midstream Partners, LP Announces Extension of Expiration Date in Series A Preferred Unit Exchange Offer\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/summit-midstream-partners-lp-announces-extension-of-expiration-date-in-series-a-preferred-unit-exchange-offer\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-07T10:48:18+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/74903\/summit_midstream_partners_logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/summit-midstream-partners-lp-announces-extension-of-expiration-date-in-series-a-preferred-unit-exchange-offer\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/summit-midstream-partners-lp-announces-extension-of-expiration-date-in-series-a-preferred-unit-exchange-offer\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Summit Midstream Partners, LP Announces Extension of Expiration Date in Series A Preferred Unit Exchange Offer","datePublished":"2021-04-07T10:48:18+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/summit-midstream-partners-lp-announces-extension-of-expiration-date-in-series-a-preferred-unit-exchange-offer\/"},"wordCount":1004,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/summit-midstream-partners-lp-announces-extension-of-expiration-date-in-series-a-preferred-unit-exchange-offer\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/74903\/summit_midstream_partners_logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/summit-midstream-partners-lp-announces-extension-of-expiration-date-in-series-a-preferred-unit-exchange-offer\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/summit-midstream-partners-lp-announces-extension-of-expiration-date-in-series-a-preferred-unit-exchange-offer\/","name":"Summit Midstream Partners, LP Announces Extension of Expiration Date in Series A Preferred Unit Exchange Offer - 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