Copano Energy, L.L.C. (NASDAQ: CPNO) today announced that it has priced
a public offering of 6,000,000 of its common units representing limited
liability company interests in the company at $32.13 per common unit.
The offering is scheduled to close on October 24, 2012. The underwriters
have been granted a 30-day option to purchase up to 900,000 additional
common units.
Copano intends to use the net proceeds from the offering, including the
proceeds from any exercise of the underwriters' option to purchase
additional common units, to repay a portion of the outstanding
indebtedness under its revolving credit facility and expects to use the
increased borrowing capacity as needed for capital projects,
acquisitions, hedging, working capital and general corporate purposes.
Barclays, BofA Merrill Lynch, Morgan Stanley, Wells Fargo Securities,
Goldman, Sachs & Co. and RBC Capital Markets are acting as joint
book-running managers for the offering. An investor may obtain a free
copy of the prospectus by visiting EDGAR on the SEC website at www.sec.gov.
When available, a copy of the prospectus supplement and accompanying
base prospectus relating to this offering may also be obtained from the
underwriters as follows:
Barclays
c/o Broadridge Financial Solutions
1155 Long Island
Avenue, Edgewood, NY 11717
Email: barclaysprospectus@broadridge.com
Telephone:
(888) 603-5847
BofA Merrill Lynch
222 Broadway
New York, NY 10038
Attn:
Prospectus Department
Email: dg.prospectus_requests@baml.com
Morgan Stanley
Attn: Prospectus Dept.
180 Varick Street, 2nd
Floor
New York, New York 10014
Email: prospectus@morganstanley.com
Telephone:
(866) 718-1649
Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park
Avenue
New York, NY 10152
Phone: (800) 326-5897
Email: cmclientsupport@wellsfargo.com
Goldman, Sachs & Co.
Attention: Prospectus Department
200
West Street
New York, NY 10282
Phone: (866) 471-2526
Email:
prospectus-ny@ny.email.gs.com
RBC Capital Markets
Attn: Equity Syndicate
3 World Financial
Center
200 Vesey Street, 8th Floor
New York, NY 10281
Phone:
(877) 822-4089
The common units are being offered and sold pursuant to an effective
shelf registration statement on Form S-3 previously filed with the
Securities and Exchange Commission. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy the
securities described herein, 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. The offering may be made only by means of a prospectus and
related prospectus supplement meeting the requirements of Section 10 of
the Securities Act of 1933, as amended.
About Copano Energy, L.L.C.
Copano Energy, L.L.C. (NASDAQ: CPNO) is a midstream natural gas company
with operations in Texas, Oklahoma and Wyoming.
This press release includes "forward-looking statements," as defined
by the Securities and Exchange Commission. Statements that
address activities or events that Copano believes will or may occur in
the future are forward-looking statements. These statements
include, but are not limited to, statements about the intended use of
offering proceeds and other aspects of the common unit offering.
These statements are based on management's experience and perception of
historical trends, current conditions, expected future
developments and other factors management believes are reasonable.
Important factors that could cause actual results to differ
materially from those in forward-looking statements include the
following risks and uncertainties, many of which are beyond
Copano's control: the volatility of prices and market demand for natural
gas and natural gas liquids; Copano's ability to continue to
obtain new sources of natural gas supply and retain its key customers;
the impact on volumes and resulting cash flow of technological,
economic and other uncertainties inherent in estimating future
production; producers' ability to drill and successfully complete
and attach new natural gas supplies and performance by such producers
under their contracts with us; the NGL content of new gas
supplies; Copano's ability to access or construct new processing,
fractionation and transportation capacity; the availability of
downstream transportation and other facilities for natural gas and NGLs;
mechanical failures and other operational risks affecting the
performance of Copano's processing plants and other facilities; higher
construction costs or project delays due to inflation; limited
availability of required resources, or the effects of environmental,
legal or other uncertainties; general economic conditions; the effects
of government regulations and policies; and other financial,
operational and legal risks and uncertainties detailed from time to time
in Copano's filings with the Securities and Exchange Commission.
We do not undertake any duty to update any forward-looking statement
except as provided by law.