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Landmark Infrastructure Partners LP Announces Closing of Common Unit Offering and Full Exercise of Over-Allotment Option

/EIN News/ -- EL SEGUNDO, Calif., Oct. 19, 2016 (GLOBE NEWSWIRE) -- Landmark Infrastructure Partners LP (Nasdaq:LMRK) (the “Partnership”) announced today the closing of its previously announced underwritten public offering of 3,450,000 common units representing limited partner interests in the Partnership (“Common Units”) at a public offering price of $16.30 per Common Unit, which includes 450,000 Common Units issued pursuant to the underwriters’ option to purchase additional Common Units.

After deducting the underwriting discounts and commissions and other estimated offering expenses, net proceeds to the Partnership are approximately $53.3 million. The Partnership intends to use the net proceeds from the offering to fund a portion of the purchase price for the previously announced acquisition by the Partnership of 100% of the equity interests in certain entities that own approximately 4,000 acres of land in California from Recurrent Energy Landco LLC, a subsidiary of Canadian Solar Inc. (the “Recurrent Transaction”). Until the Partnership applies the net proceeds for the purposes described above, it may repay indebtedness under its revolving credit facility or invest the proceeds in short-term liquid investments. If the Recurrent Transaction is not consummated, then the Partnership intends to use the net proceeds to repay borrowings outstanding under its revolving credit facility.

Raymond James & Associates, Inc., RBC Capital Markets, LLC, Wells Fargo Securities, LLC and Robert W. Baird & Co. Incorporated acted as joint book-running managers for the offering. Wunderlich Securities, Inc. and Janney Montgomery Scott LLC acted as co-managers for the offering. Raymond James & Associates, Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC also acted as representatives of the underwriters named above. Copies of the preliminary prospectus supplement, prospectus supplement and accompanying base prospectus related to the offering may be obtained free of charge on the Securities and Exchange Commission’s (“SEC”) website at or from the underwriters of the offering as follows:

Raymond James & Associates, Inc.
Attn: Equity Syndicate 
880 Carlton Parkway 
St. Petersburg, Florida 33716 
Telephone: (800) 248-8863 

RBC Capital Markets, LLC
Attn: Equity Syndicate
200 Vesey St., 8th Floor
New York, New York 10281
Telephone: (877) 822-4089

Wells Fargo Securities, LLC
Attn: Equity Syndicate Department
375 Park Avenue
New York, New York 10152
Telephone: (800) 326-5897

Robert W. Baird & Co. Incorporated
Attention: Syndicate Department
777 E. Wisconsin Avenue
Milwaukee, Wisconsin 53202
Telephone: (800) 792-2473

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering is being made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The offering is being made pursuant to an effective shelf registration statement, which was previously filed by the Partnership with the SEC.

About Landmark Infrastructure Partners LP
The Partnership is a growth-oriented master limited partnership formed to acquire, own and manage a portfolio of real property interests that the Partnership leases to companies in the wireless communication, outdoor advertising and renewable power generation industries. Headquartered in El Segundo, California, the Partnership owns and manages a diversified portfolio of real property interests, which includes long-term and perpetual easements, tenant lease assignments and, to a lesser extent, fee simple properties, primarily located in the United States. As of September 30, 2016, the Partnership’s portfolio consisted of 1,968 tenant sites.

Cautionary Note Regarding Forward Looking Statements
Disclosures in this press release contain certain forward-looking statements within the meaning of the federal securities laws. Statements that do not relate strictly to historical or current facts are forward-looking. These statements contain words such as “possible,” “if,” “will,” “expect” and “assuming” and involve risks and uncertainties including, among others that our business plans may change as circumstances warrant and the Recurrent Transaction may not close. Accordingly, readers should not place undue reliance on forward-looking statements as a prediction of actual results. For more information concerning factors that could cause actual results to differ materially from those conveyed in the forward-looking statements, please refer to the “Risk Factors” section of the Partnership’s Form 10-K for year ended December 31, 2015 included in the registration statement, in the form last filed with the SEC. Any forward-looking statements in this press release are made as of the date of this press release and the Partnership undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or of which the Partnership becomes aware, after the date hereof, unless required by law.

Marcelo Choi
Vice President, Investor Relations
(310) 598-3173

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