Would someone please explain why the stock is going up regarding the following? Eagle Rock Energy Partners, L.P. Announces Launch of At-the-Market Equity Program
HOUSTON, May 31, 2012 (GlobeNewswire via COMTEX) -- Eagle Rock Energy Partners, L.P. EROC -0.61% (the "Partnership") announced today that it has filed a prospectus supplement with the Securities and Exchange Commission (the "SEC") through which it may, from time to time, issue common units with an aggregate market value of up to $100 million through UBS Securities LLC or Knight Capital Americas, L.P. as sales agents. The Partnership is under no obligation to issue equity under the program. The Partnership intends to use the net proceeds from sales under the program for general partnership purposes, which may include, among other things, repayment of indebtedness, acquisitions, capital expenditures and additions to working capital.
Sales of common units, if any, will be made by means of ordinary brokers' transactions through the facilities of the NASDAQ Global Select Market, in block transactions, or as otherwise agreed to between the Partnership and UBS Securities LLC or Knight Capital Americas, L.P.
The common units will be offered pursuant to a prospectus supplement, dated May 30, 2012, to the Partnership's base prospectus, dated March 30, 2010, filed as part of the Partnership's effective shelf registration statement previously filed with the SEC. Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained by visiting EDGAR on the SEC website at www.sec.gov , or as follows:
You're right. My posting was 'time sensitive.' I was getting ready to buy some cheap shares and eroc started going up and never came back down. It wasn't until then I looked and found out about the additional units. Thanks.