JP Energy Partners Prices IPO At Mid-point Of Range

(RTTNews) - JP Energy Partners LP said Wednesday that it has priced its initial public offering of 13.75 million common units representing limited partner interests in JPE at $20 per common unit, which the mid-point of the previously estimated price range of $19 to $21 per common unit.

JPE has granted the underwriters an option to purchase up to an additional 2,062,500 common units at the initial public offering price.

The common units are expected to begin trading on the New York Stock Exchange under the ticker symbol "JPEP."

The offering is expected to close on October 7.

Upon the closing of the offering, the public will own an about 37.7% limited partner interest in JPE, or an about 43.4% limited partner interest if the underwriters exercise, in full, their option to purchase additional common units.