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|Inergy Midstream Launches Initial Public Offering|
KANSAS CITY, Mo., Dec 07, 2011 (BUSINESS WIRE) -- Inergy Midstream, L.P., a Delaware limited partnership ("Inergy Midstream"), announced today that it has commenced an underwritten initial public offering of 16,000,000 of its common units representing limited partner interests pursuant to a registration statement on Form S-1 filed with the Securities and Exchange Commission (the "SEC"). The underwriters will be granted a 30-day over-allotment option to purchase up to an additional 2,400,000 common units. The common units will be listed on the New York Stock Exchange and traded under the symbol "NRGM."
Inergy Midstream was formed by Inergy, L.P. (NYSE: NRGY) to own, operate, develop and acquire midstream energy assets. The common units being offered to the public represent an approximate 21.5% limited partner interest in Inergy Midstream, or an approximate 24.8% limited partner interest if the underwriters exercise their over-allotment option in full. Inergy, L.P. will own the remaining limited partner interest in Inergy Midstream.
Morgan Stanley, Barclays Capital, BofA Merrill Lynch, Credit Suisse and Wells Fargo Securities are acting as joint book-running managers for the offering. J.P. Morgan, RBC Capital Markets, Robert W. Baird & Co., Morgan Keegan and Stifel Nicolaus Weisel, 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:
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offer s to buy be accepted prior to the time the registration statement becomes effective. The registration statement is available on the SEC's web site at http://www.sec.gov under the registrant's name, "Inergy Midstream, L.P." This press 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 Inergy Midstream
Inergy Midstream, L.P., with headquarters in Kansas City, Missouri, is a master limited partnership engaged in the development and operation of natural gas and NGL storage and transportation assets. Our assets are located in the Northeast region of the United States.
Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements involve certain risks and uncertainties, including, among others, that our business plans may change as circumstances warrant and securities of Inergy Midstream, L.P. may not ultimately be offered to the public because of general market conditions or other factors.
For more information, contact Mike Campbell in Inergy Midstream's Investor Relations Department at 816-842-8181 or via e-mail at email@example.com.
SOURCE: Inergy Midstream