USA Compression Partners announced today the launch of its IPO of 10,000,000 common units representing limited partner interests. The common units have been approved for listing on the New York Stock Exchange under the ticker symbol "USAC". The underwriters have the option to purchase from USA Compression up to an additional 1,500,000 common units, at the initial public offering price.
USA Compression intends to use the net proceeds from the offering, including the net proceeds from any exercise of the underwriters' option to purchase additional common units, to repay indebtedness under USA Compression's revolving credit facility. Barclays Capital Goldman Sachs, J.P. Morgan Securities and Wells Fargo Securities are acting as joint book-running managers of the offering, with Raymond James & Associates, RBC Capital Markets, UBS Securities and Evercore Group acting as co-managers.
