Item 7.01 Regulation FD Disclosure
As previously announced, on December 14, 2021, Summit Midstream Partners, LP, a
Delaware limited partnership (the "Partnership"), commenced an offer to exchange
(the "Exchange Offer") any and all of 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 newly issued
common units representing limited partner interests in the Partnership (the
"Common Units"), with each participating holder receiving 38 Common Units for
each Series A Preferred Unit properly tendered (and not validly withdrawn).
On January 13, 2022, the Partnership announced the preliminary results of the
Exchange Offer, which expired at 11:59 p.m., New York City time, on January 12,
2022 (the "Expiration Date"). Based on preliminary information provided by
American Stock Transfer & Trust Company, LLC, the depositary of the Exchange
Offer (the "Depositary"), as of the Expiration Date, 77,939 Series A Preferred
Units had been properly tendered (and not validly withdrawn). The number of
Series A Preferred Units properly tendered (and not validly withdrawn) are
preliminary and are subject to verification by the Depositary. The Partnership
expects to deliver the Common Units to be issued in exchange for the Series A
Preferred Units on January 14, 2022. 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 January 13, 2022.
104 Cover Page Interactive Data File - the cover page XBRL tags are
embedded within the Inline XBRL document.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses