On March 10, 2021, Summit Midstream Partners, LP (NYSE: SMLP) (the “Partnership”) announced that it has commenced an offer to exchange (the “Exchange Offer”) its 9.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (Liquidation Preference $1,000) (the “Series A Preferred Units”) tendered in the Exchange Offer for up to 2,160,000 newly issued common units representing limited partner interests in the Partnership (the “Common Units”). For each Series A Preferred Unit that is accepted in the Exchange Offer, the holder will receive 27 Common Units. The Exchange Offer is scheduled to expire at 11:59 p.m., New York City time, on April 6, 2021, unless extended.

Baker Botts is representing SMLP in the Exchange Offer.

For more information, please see SMLP’s news release by clicking here.

Baker Botts Lawyers/Offices Involved

Corporate: Josh Davidson (Partner, Houston); Clint Rancher (Partner, Houston); Rachel Ratcliffe (Senior Associate, Austin); Emmie Proctor (Associate, Houston); Rachel Collier (Associate, Houston)

Tax: Michael Bresson (Partner, Houston); Jared Meier (Senior Associate, Houston)

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