On December 14, 2021, Summit Midstream Partners, LP (NYSE: SMLP) (the “Partnership”) announced that it has commenced an offer to exchange (the “Exchange Offer”) any and all of 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 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 38 Common Units. The Exchange Offer is scheduled to expire at 11:59 p.m., New York City time, on January 12, 2022, 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); Sarah Dodson (Senior Associate, Houston); Emmie Proctor (Associate, Houston); Malakeh Hijazi (Associate, Houston); Austin Lee (Associate, Houston)
Tax: Michael Bresson (Partner, Houston); Jared Meier (Senior Associate, Houston)
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