AUSTIN, Texas--(BUSINESS WIRE)--
USA Compression Partners, LP (USAC) (the “Partnership”) is pleased to announce that its distribution reinvestment plan (the “Plan”) is open for enrollment for owners of its common and subordinated units. The Plan provides a simple and convenient means for eligible holders to invest in the Partnership’s common units.
Only registered holders of the Partnership’s common and subordinated units may directly participate in the Plan. A registered holder is a unitholder whose name is recorded on the Partnership’s register as the person who has the rights, benefits and responsibilities of ownership. If you own common units that are registered in someone else’s name (for example, a bank, broker or trustee), the Plan allows you to participate through this person, should they elect to participate, without having to withdraw your common units from the bank, broker or trustee.
If your broker or bank elects not to participate in the Plan on your behalf, they may have a program with their direct accounts that has a similar effect. Please contact your broker or bank directly for information on these programs. Otherwise, you can participate by withdrawing your common units from your bank or broker and registering your common units in your name.
The price for new common units purchased with reinvested distributions will be the average of the high and low trading prices of the common units on the New York Stock Exchange—Composite Transactions for the five trading days immediately preceding the investment date, less a discount ranging from 0% to 5%. The discount is initially set at 0%; therefore, the initial purchase price for authorized but unissued common units purchased with reinvested distributions will be 100% of the average trading price. (Note: If you participate in the Plan through your broker, you should consult with your broker to determine if your broker will charge you a service fee.)
The Partnership has appointed Wells Fargo Shareowner Services, a division of Wells Fargo Bank, N.A., to administer the Plan (the “Administrator”). To participate in the Plan, you must enroll online by following the enrollment procedures specified on the Administrator’s website at shareowneronline.com or by completing and signing an authorization form and returning it to the Administrator. Your participation will begin promptly after your authorization is received.
Participation in the Plan is voluntary, and if you elect to participate, you may terminate your participation in the Plan at any time (subject to restrictions following a relevant record date).
You should read carefully the prospectus describing the Plan before deciding to participate. A copy of the prospectus has been filed with the Securities and Exchange Commission. For more information about the Plan, or to request or download a copy of the detailed Plan Prospectus or the Authorization Form, please contact the Administrator by visiting their website at shareowneronline.com or by phone at 1-800-468-9716. A copy of the Plan Prospectus has also been posted on the Partnership’s website at www.usacpartners.com under the Investor Relations tab.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the common units described in this news release, nor shall there be any sale of these common units in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offer is being made only through an effective registration statement on Form S-3, including the prospectus contained therein, that was filed with the Securities and Exchange Commission on April 28, 2014 and became immediately effective upon filing.
ABOUT USA COMPRESSION PARTNERS, LP
USA Compression Partners, LP is a growth-oriented Delaware limited partnership that is one of the nation’s largest independent providers of compression services in terms of total compression unit horsepower. The company partners with a broad customer base composed of producers, processors, gatherers and transporters of natural gas and crude oil. USA Compression focuses on providing compression services to infrastructure applications primarily in high volume gathering systems, processing facilities and transportation applications. More information is available at www.usacpartners.com.
Statements in this press release may be forward-looking statements as defined under federal law. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of USAC, and a variety of risks that could cause results to differ materially from those expected by management of USAC. USAC undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
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