Hi-Crush Partners LP, which mines for and processes monocrystalline sand, in a filing with the U.S. Securities and Exchange Commission on Tuesday said that its unit holder Hi-Crush Proppants LLC is offering 11.25 million common units in an initial public offering.
The company currently expect the offering price to be between $19 and $21 per unit. According to the company, the proposed maximum aggregate price of the offering would be $271.69 million.
Hi-Crush said it will not receive any proceeds from the sale of common units by Hi-Crush Proppants. The common units have been approved for listing on the New York Stock Exchange under the symbol "HCLP".
The selling unitholder has granted the underwriters a 30-day option to purchase up to 1.69 million additional common units.
In the offering, the underwriters are Barclays, Morgan Stanley, Credit Suisse and UBS Investment Bank.
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by RTT Staff Writer
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