DENVER, April 24, 2017 /PRNewswire/ -- Antero
Midstream GP LP ("AMGP") today announced the commencement of
its initial public offering of 37,250,000 common shares
representing limited partner interests in AMGP, at an anticipated
initial public offering price between $22.00
and $25.00 per common share, pursuant to a registration
statement on Form S-1 previously filed with the U.S. Securities and
Exchange Commission (the "SEC"). The underwriters will be
granted a 30-day option to purchase up to an additional 5,587,500
common shares. AMGP has been approved to list its common
shares on the New York Stock Exchange under the symbol "AMGP",
subject to official notice of issuance. AMGP will own the
general partner of Antero Midstream Partners LP (NYSE: AM) ("Antero
Midstream") and incentive distribution rights in Antero Midstream
and has elected to be classified as an entity taxable as a
corporation for U.S. federal income tax purposes.
The common shares being offered represent an approximate 20%
limited partner interest in AMGP (or approximately 23% if the
underwriters exercise in full their option to purchase additional
common shares). Immediately following the offering, Antero
Resources Investment LLC will own the remaining approximate 80%
limited partner interest in AMGP (or approximately 77% if the
underwriters exercise in full their option to purchase additional
common shares).
Morgan Stanley, Barclays and J.P. Morgan will act as joint
book-running managers for the offering. Baird, Citigroup, Goldman
Sachs and Wells Fargo Securities will act as book-running
managers.
In connection with the offering, Antero Resources Midstream
Management LLC ("ARMM") will be converted into a Delaware limited partnership, and, in
connection with such conversion, will change its name to Antero
Midstream GP LP. ARMM has filed a registration statement
relating to these securities with the SEC, which has not yet become
effective. These securities may not be sold nor may offers to
buy be accepted prior to the time that the registration statement
becomes effective. This offering will be made only by means
of a written prospectus. A copy of the preliminary prospectus for
the offering may be obtained, when available, from:
Morgan Stanley &
Co. LLC
Attention: Prospectus
Department
180 Varick Street,
2nd Floor
New York, NY
10014
|
Barclays
c/o Broadridge
Financial Solutions
1155 Long Island
Avenue
Edgewood, NY
11717
barclaysprospectus@broadridge.com
Toll-Free:
1-888-603-5847
|
J.P.
Morgan
c/o Broadridge
Financial Solutions
1155 Long Island
Avenue
Edgewood, NY,
11717
1-866-803-9204
Email:
prospectus-eq_fi@jpmchase.com
|
Baird
Attention: Syndicate
Department
777 East Wisconsin
Avenue
Milwaukee, WI
53202-5391
Telephone:
1-800-792-2473
Email:
syndicate@rwbaird.com.
|
Citigroup
c/o Broadridge
Financial Solutions
1155 Long Island
Avenue
Edgewood, NY
11717
Telephone:
1-800-831-9146
|
Goldman, Sachs &
Co.
Attention: Prospectus
Department
200 West
Street
New York, NY
10282
Telephone:
1-866-471-2526
Facsimile:
212-902-9316
prospectus-ny@ny.email.gs.com
|
|
Wells Fargo
Securities
c/o Equity Syndicate
Department
375 Park
Avenue
New York, NY
10152
Telephone:
1-800-326-5897
cmclientsupport@wellsfargo.com
|
|
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 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.
Antero Midstream GP LP will be a Delaware limited partnership that, following
the completion of the offering, will own the general partner of
Antero Midstream and all of the incentive distribution rights in
Antero Midstream.
This release includes "forward-looking statements" within the
meaning of federal securities laws. Such forward-looking statements
are subject to a number of risks and uncertainties, many of which
are beyond AMGPs control. All statements, other than historical
facts, included in this release are forward-looking statements. All
forward-looking statements speak only as of the date of this
release and are based upon a number of assumptions. Although AMGP
believes that the plans, intentions and expectations reflected in
or suggested by the forward-looking statements are reasonable,
there is no assurance that the assumptions underlying these
forward-looking statements will be accurate or the plans,
intentions or expectations expressed herein will be achieved.
Therefore, actual outcomes and results could materially differ from
what is expressed, implied or forecast in such statements. Nothing
in this release is intended to constitute guidance with respect to
Antero Midstream.
AMGP cautions you that these forward-looking statements are
subject to all of the risks and uncertainties, most of which are
difficult to predict and many of which are beyond AMGP's and Antero
Midstream's control, incident to Antero Midstream's business. These
risks include, but are not limited to, commodity price volatility,
inflation, environmental risks, drilling and completion and other
operating risks, regulatory changes, the uncertainty inherent in
projecting future rates of production, cash flow and access to
capital and the timing of development expenditures.
For more information, contact Michael
Kennedy – CFO of Antero Midstream GP LP at (303) 357-6782
or mkennedy@anteroresources.com.
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SOURCE Antero Midstream GP LP