Copano Energy, L.L.C. (NASDAQ: CPNO) today announced that it has priced
a public offering of 5,000,000 common units representing limited
liability company interests in the company at $34.03 per common unit.
The offering is scheduled to close on January 19, 2012. The underwriters
have been granted a 30-day option to purchase up to 750,000 additional
common units. The offering was upsized to 5,000,000 common units from
the original offering size of 4,500,000 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 Capital, BofA Merrill Lynch, J.P. Morgan, Morgan Stanley,
Deutsche Bank Securities and Wells Fargo Securities are joint
book-running managers for the offering. Goldman, Sachs & Co. and RBC
Capital Markets are acting as joint lead managers of 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 Capital
c/o Broadridge Financial Solutions
1155 Long
Island Avenue, Edgewood, NY 11717
Email: barclaysprospectus@broadridge.com
Telephone:
(888) 603-5847
BofA Merrill Lynch
Attn: Prospectus Department
4 World
Financial Center
New York, NY 10080
Email: dg.prospectus_requests@baml.com
J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long
Island Avenue
Edgewood, New York 11717
Telephone: (866)
803-9204
Morgan Stanley
Attn: Prospectus Dept.
180 Varick Street, 2nd
Floor
New York, New York 10014
Email: prospectus@morganstanley.com
Telephone:
(866) 718-1649
Deutsche Bank Securities
Prospectus Department
Harborside
Financial Center
100 Plaza One
Jersey City, New Jersey 07311
Email:
prospectus.cpdg@db.com
Telephone:
(800) 503-4611
Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park
Avenue
New York, NY 10152
Phone: (800) 326-5897
Email: cmclientsupport@wellsfargo.com
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, Wyoming and Louisiana.
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 the forward-looking statements include the
following risks and uncertainties, many of which are beyond
Copano's control: price volatility 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 the availability of downstream transportation
systems and other facilities for natural gas and NGLs; 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.