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Landmark Infrastructure prices series A preferred units offering

Landmark InfrastructurePartners LP priced its underwritten public offering of 8.00% series A cumulative redeemable perpetualpreferred units.

The company said March 30 that it will offer 800,000 of the unitsat a price to the public of $25.00 apiece. The offering also includes a 30-day optionfor the underwriters to buy up to 120,000 additional series A preferred units. Itis expected to be completed on or about April 4, pending normal closing conditions.

The offering is expected to yield net proceeds of roughly $18.8million, or about $21.7 million if the underwriters' additional-share option isfully exercised.

The series A preferred units, which represent limited partnerinterests in the company, also have a liquidation preference of $25.00 apiece. Thecompany will pay distributions on the units at an annual rate of 8.00% of the stated$25.00-per-unit liquidation preference.

Landmark Infrastructure said it plans to use the net proceedsto repay indebtedness.

RBC Capital Markets LLC, FBR Capital Markets & Co., JanneyMontgomery Scott LLC, Wunderlich Securities Inc., Incapital LLC and Oppenheimer& Co. Inc. are acting as the offering's joint book-running managers. RBC Capitaland FBR Capital are also serving as the underwriters' representatives.