EQT CORPORATION EQT GP Holdings, LP, a Delaware limited partnership (the Partnership) and an EQT Corporation company, today announced it has commenced an initial public offering of 20,000,000 common units representing limited partner interests pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (SEC). The underwriters will be granted a 30-day option to purchase up to an additional 3,000,000 common units. The common units of the Partnership are expected to be listed and traded on the New York Stock Exchange, under the symbol "EQGP."
The common units being offered to the public represent a 7.5% limited partner interest in the Partnership, or 8.5% limited partner interest if the underwriters exercise their overallotment option in full. EQT Corporation will hold a 92.5% limited partner interest and a non-economic general partner interest in the Partnership, or 91.5% if the underwriters exercise their overallotment option in full.
Barclays, Goldman, Sachs & Co., BofA Merrill Lynch, Citigroup, Credit Suisse, Deutsche Bank Securities, J.P. Morgan, RBC Capital Markets and Wells Fargo Securities are acting as joint book-running managers for the offering; MUFG, BNP PARIBAS, PNC Capital Markets LLC, Scotia Howard Weil, SunTrust Robinson Humphrey, Ladenburg Thalmann, Oppenheimer & Co. and U.S. Capital Advisors are acting as co-managers for the offering.
This offering of common units will be made only by means of a prospectus. When available, a written prospectus, which meets the requirements of Section 10 of the Securities Act of 1933, may be obtained through:
Barclays c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 barclaysprospectus@broadridge.com Telephone: 1-888-603-5847 | Goldman, Sachs & Co. Attn: Prospectus Department 200 West Street New York, NY 10282 Telephone: 1-866-471-2526 prospectus-ny@ny.email.gs.com | ||
BofA Merrill Lynch Attn: Prospectus Department 222 Broadway New York, NY 10038 Dg.prospectus_requests@baml.com | Citigroup c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: 1-800-831-9146 prospectus@citi.com | ||
Credit Suisse Attn: Prospectus Department One Madison Avenue New York, NY 10010 Atnewyork.prospectus@credit-suisse.com Telephone: 1-800-221-1037 | Deutsche Bank Securities Attn: Prospectus Group 60 Wall Street New York, NY 10005 Prospectus.CPDG@db.com Telephone: 1-800-503-4611 | ||
J.P. Morgan c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: 1-888-803-9204 | RBC Capital Markets Attn: Equity Syndicate Three World Financial Center 200 Vesey Street, 8th Floor New York, NY 10281 Telephone: 1-877-822-4089 equityprospectus@rbccm.com | ||
Wells Fargo Securities Attn: Equity Syndicate Dept. 375 Park Avenue New York, NY 10152 cmclientsupport@wellsfargo.com Telephone: 1-800-326-5897 | |||
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. 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 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 state or jurisdiction.
About EQT GP Holdings, LP:
EQT GP Holdings, LP is a limited partnership formed to own partnership interests in EQT Midstream Partners, LP (NYSE: EQM), a growth-oriented limited partnership formed by EQT Corporation to own, operate, acquire, and develop midstream assets in the Appalachian Basin. EQT Midstream Partners, LP provides midstream services to EQT Corporation and third-party companies through its strategically located transmission, storage, and gathering systems that service the Marcellus and Utica regions. EQT Midstream Partners, LP owns 700 miles and operates an additional 200 miles of FERC-regulated interstate pipelines and also owns more than 1,600 miles of high- and low-pressure gathering lines.
Cautionary Statements
Disclosures in this press release contain certain forward-looking statements. Statements that do not relate strictly to historical or current facts are forward-looking. These statements involve risks and uncertainties including, among others that our business plans may change as circumstances warrant and securities of the Partnership may not ultimately be offered to the public because of general market conditions or other factors. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results.
