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Summit Midstream launches secondary offering of common units
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Summit Midstream Partners LP launched a public offering of 4 million of its common units owned by its sponsor Summit Midstream Partners LLC's subsidiary, Summit Midstream Partners Holdings LLC.
The underwriter, Barclays Capital Inc., was given a 30-day overallotment option for up to 600,000 additional common units. The partnership would not receive net proceeds from the offering, and the number of its outstanding common units will be retained, according to a Jan. 30 news release.