HOUSTON, May 11, 2015 – EQT GP Holdings, LP, a Delaware limited partnership and an EQT Corporation company, announced the pricing of its initial public offering of 23,000,000 common units representing limited partner interests at $27.00 per common unit, above the range of $21.00 to $24.00 per common unit. The underwriters have been granted a 30-day option to purchase up to an additional 3,450,000 common units at the initial public offering price, less underwriting discounts and commissions. The common units of EQT GP Holdings began trading on the New York Stock Exchange under the symbol "EQGP" on May 12, 2015. The offering is expected to close on May 15, 2015, subject to customary closing conditions.
Upon conclusion of the offering, the public ownership will represent an 8.6% limited partner interest in EQT GP Holdings, or 9.9% limited partner interest if the underwriters exercise their overallotment option in full. EQT Corporation will hold a 91.4% limited partner interest and a non-economic general partner interest in EQT GP Holdings, or 90.1% if the underwriters exercise their overallotment option in full.
Barclays, Goldman, Sachs & Co., BofA Merrill Lynch, Citigroup, Credit Suisse, Deutsche Bank Securities, J.P. Morgan, RBC Capital Markets and Wells Fargo Securities are acting as joint book-running managers for the offering; MUFG, BNP PARIBAS, PNC Capital Markets LLC, Scotia Howard Weil, SunTrust Robinson Humphrey, Ladenburg Thalmann, Oppenheimer & Co. and U.S. Capital Advisors are acting as co-managers for the offering.
Baker Botts represented EQT GP Holdings, LP in connection with the offering.
Baker Botts Lawyers/Office Involved:
Corporate: Mollie Duckworth (Partner, Austin); Josh Davidson (Partner, Houston); Terence Rozier-Byrd (Special Counsel; New York); Sally Russell (Senior Associate; Austin); Alyssia Bernazal (Associate, Austin); Jennifer Wu (Associate; Austin); Rachel Ratcliffe (Associate; Austin)
Tax: Mike Bresson (Partner; Houston); Chad McCormick (Partner, Houston); James Chenoweth (Partner; Houston); Chuck Campbell (Partner; Houston); Zackary Pullin (Senior Associate; Houston); Jared Meier (Associate; Houston)
Employment Benefits: Rob Fowler (Partner; Houston)
Regulatory: Jerrod Harrison (Senior Associate; Houston)
Real Estate: Daniel Kruger (Associate; Houston)
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