March 19, 2010 (FinancialWire) — Copano Energy, L.L.C. (NASDAQ: CPNO) has closed the sale of 971,250 additional common units due to the exercise of an over-allotment option granted to the underwriters of Copano's recent public offering of 6.475 million common units, which closed on March 8.

Morgan Stanley (NYSE: MS), BofA Merrill Lynch (NYSE: BAC) and Wells Fargo Securities (NYSE: WFC) acted as joint book-running managers.

The underwriters of Copano's recent offering exercised in full their option to purchase 971,250 additional common units at a public offering price of $23.10 per common unit.

Copano plans to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under its revolving credit facility and expects to use the increased borrowing capacity as needed for capital projects, acquisitions, hedging, working capital and general corporate purposes.

Texas-based Copano Energy is a midstream natural gas company with operations in Oklahoma, Texas, Wyoming and Louisiana.

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.