Energy Transfer LP (“Energy Transfer” or the “Partnership”) (NYSE: ET) has announced the pricing of an underwritten secondary public offering of 38,755,996 common units representing limited partner interests (the “common units”) at a public offering price of $15.78 per unit. The offering is being conducted by WTG Midstream LLC and an affiliate of Stonepeak (the “Selling Unitholders”).
All proceeds from the offering will go to the Selling Unitholders. Energy Transfer will not be selling any common units in this offering and will not receive any proceeds. Additionally, certain officers and directors of LE GP, LLC, the general partner of Energy Transfer (referred to as “affiliated purchasers”), have agreed to purchase a total of 3,040,000 common units at the same price per unit as the underwriter will pay the Selling Unitholders. The underwriter will not receive any underwriting discounts or commissions for sales to these affiliated purchasers.
Barclays is acting as the underwriter for the offering, which is expected to close on August 12, 2024, subject to customary closing conditions.
The offering is being conducted under a registration statement previously filed with the U.S. Securities and Exchange Commission (SEC) and declared effective on July 31, 2024.
The offering is available only through a prospectus and prospectus supplement in compliance with the Securities Act of 1933, as amended. Copies of the preliminary prospectus supplement, the accompanying base prospectus, and the final prospectus supplement, when available, can be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions.
