Atlas Resource Partners, L.P. (ARP) shares are down 1.5% pre-market after the company priced a sale of 13.5 million common units at $19.90 per unit, in line with Thursday’s close.
The underwriters have been granted a 30-day option to purchase up to an additional 2,025,000 common units.
ARP intends to use the proceeds to fund a portion of its previously-announced acquisition of oil assets in the Rangely Field in NW Colorado.
The shares recently traded at $19.59 in a 52-week range of $18.30 – $24.60.
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