StoneMor Partners Plans Offering of 1.2M Units
StoneMor Partners LP said Wednesday that it plans a public offering of about 1.2 million common units.
The funeral home and cemetery operator plans to use the offering’s net proceeds and the related capital contribution by its general partner to prepay some of its acquisition credit agreement’s borrowings and to pay down a portion of its revolving credit facility.
StoneMor plans to give the underwriter a 30-day option to buy up to 183,300 additional units to cover excess demand. If the underwriter uses the option, StoneMor said it will use the extra funds to pay down more of the revolving credit facility.
Shares of StoneMor fell 82 cents, or 3.2 percent, to $25.05 in midday trading. The stock has traded in a 52-week range of $16 to $26.95.
Source: Business Week
Visit the First Social Network Designed Specifically for Progressive Funeral Professionals
Latest posts by CDFuneralNews (see all)
- 49 Wilbert Licensees Earn Ultimate Service Provider for 2017 - February 7, 2018
- Learn and Connect at 2018 NFDA Professional Women’s Conference - February 7, 2018
- Aftercare.com chosen as a Preferred Partner of Selected Independent Funeral Homes - February 7, 2018
You may be interested
“Going Out In Style” will Plan Your Funeral in the Most Extravagant WayJustin Crowe - February 7, 2018
I've never desired to plan my funeral until seeing the events that are being designed by the women at Going Out…
49 Wilbert Licensees Earn Ultimate Service Provider for 2017CDFuneralNews - February 7, 2018
BROADVIEW, IL, February 6, 2018 – Forty-nine Wilbert Licensees have earned the 2017 Ultimate Service Provider designation from Wilbert Funeral Services, Inc. (WFSI),…
Learn and Connect at 2018 NFDA Professional Women’s ConferenceCDFuneralNews - February 7, 2018
Brookfield, Wis. – Registration is open for the profession’s leading gathering for women in funeral service: the National Funeral Directors…