This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:StoneMor Partners L.P. Prices Public Offering of 1,275,000 Common Units 2009-11-18 21:24 ET - News Release LEVITTOWN, Pa., Nov. 18, 2009 (GLOBE NEWSWIRE) -- StoneMor Partners L.P. (Nasdaq:STON) ("StoneMor") announced today that it has priced 1,275,000 common units representing limited partner interests in StoneMor at a price to the public of $17.00 per unit. StoneMor expects the offering to close on November 24, 2009, subject to customary closing conditions and as described below. StoneMor will receive net proceeds of approximately $20.7 million, after deducting the underwriting discount and offering expenses in connection with this offering and including the general partner's proportionate capital contribution. StoneMor has granted the underwriter a 30-day option to purchase up to 191,250 additional common units to cover over-allotments, if any.
StoneMor intends to use the net proceeds from this offering to prepay a portion of the borrowings outstanding under its acquisition credit facility and to fund growth capital expenditures, including mausoleum construction, or for general partnership purposes. If the underwriter exercises its option to purchase additional common units, StoneMor will use the additional proceeds to fund growth capital expenditures, including mausoleum construction, or for general partnership purposes.
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