Plains GP Holdings, L.P. (NYSE: PAGP) today announced that it has closed
the issuance of 4,382,094 Class A shares representing limited partner
interests at $22.00 per Class A share pursuant to a partial exercise of
all of the remaining shares available for purchase under the 30-day
option to purchase up to an additional 19,200,000 Class A shares granted
to the underwriters in connection with PAGP's recent initial public
offering of 128,000,000 Class A shares.
PAGP will distribute the net proceeds of the partial exercise of the
option of approximately $93.5 million to one of the existing owners of
Plains AAP, L.P. ("AAP") who sold a portion of its interests to PAGP in
connection with the partial exercise of the option. AAP currently owns
all of the incentive distribution rights and an indirect 2% general
partner interest in Plains All American Pipeline, L.P. ("PAA"). As of
the closing of the partial exercise of the option, PAGP owns an
approximate 21.8% limited partner interest in AAP (20.4% economic
interest including the dilutive effect of management incentive units).
Barclays, Goldman, Sachs & Co., J.P. Morgan, BofA Merrill Lynch,
Citigroup, UBS Investment Bank and Wells Fargo Securities acted as joint
book-running managers of the offering.
A registration statement relating to these securities has been filed
with, and declared effective by the Securities and Exchange Commission.
This offering will be made only by means of a prospectus. A copy of the
final written prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, may be obtained from the offices of:
Barclays
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Email: Barclaysprospectus@broadridge.com
Toll free: (888) 603-5847
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Goldman, Sachs & Co.
Attn: Prospectus Department
200 West Street
New York, NY 10282
Email: prospectus-ny@ny.email.gs.com
Telephone: (866) 471-2526
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J.P. Morgan
Attn: Broadridge Financial Solutions
1155 Long Island Avenue Edgewood, New York 11717 Telephone:
(866) 803-9204
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BofA Merrill Lynch
222 Broadway
New York, NY 10038
Attn: Prospectus Department
Email: dg.prospectus_requests@baml.com |
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Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Phone: (800) 831-9146
Email: batprospectsdept@citi.com | | | | |
UBS Investment Bank
Attn: Prospectus Dept. 299 Park Avenue New York, New
York 10171 Phone: (888) 827-7275
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Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park Avenue
New York, NY 10152
Email: cmclientsupport@wellsfargo.com | | | | | |
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This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, sale or solicitation would
be unlawful prior to registration or qualification under the securities
law in any such state.
Plains GP Holdings, L.P.
Roy I. Lamoreaux, 713-646-4222 –
800-564-3036
Director, Investor Relations