Item 7.01 Regulation FD Disclosure
On March 10, 2021, Summit Midstream Partners, LP, a Delaware limited partnership
(the "Partnership"), commenced an offer to exchange (the "Exchange Offer") its
9.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred
Units (Liquidation Preference $1,000) (the "Series A Preferred Units") tendered
in the Exchange Offer for up to 2,160,000 newly issued common units (the
"Maximum Exchange Amount") representing limited partner interests in the
Partnership (the "Common Units").
On March 23, 2021, the Partnership amended the Exchange Offer to increase the
exchange consideration and the Maximum Exchange Amount. For each Series A
Preferred Unit properly tendered (and not validly withdrawn) prior to 11:59
p.m., New York City time, on April 6, 2021 (such time and date, as the same may
be extended, the "Expiration Date") and accepted by the Partnership,
participating holders of Series A Preferred Units will receive 30 Common Units,
which is an increase of three Common Units, or approximately 11% more than the
previous offer of 27 Common Units for each Series A Preferred Unit properly
tendered (and not validly withdrawn). Further, the Maximum Exchange Amount will
be increased from 2,160,000 Common Units to 2,400,000 Common Units to reflect
the increased exchange consideration.
The Exchange Offer will expire on the Expiration Date, unless the Partnership
extends the Exchange Offer or terminates it earlier. A copy of the related press
release is filed herewith as Exhibit 99.1 and incorporated herein by reference.
The information furnished in this Item 7.01 shall not be deemed "filed" for
purposes of the Securities Exchange Act of 1934, as amended (the "1934 Act"),
and shall not be deemed incorporated by reference in any filing with the
Securities and Exchange Commission, whether or not filed under the Securities
Act of 1933 or the 1934 Act, regardless of any general incorporation language in
such document.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit Number Description
99.1 Press Release, dated March 23, 2021.
104 Cover Page Interactive Data File - the cover page XBRL tags
are embedded within the Inline XBRL document.
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