Rose Rock Midstream LP (NYSE: RRMS) priced 2 million common units, representing limited partner interest, at $40.32 each, the company said Feb. 10.
Underwriters were granted a monthlong option to purchase 300,000 additional units.
Net proceeds will support the pending acquisition of SemGroup Corp.’s (NYSE: SEMG) remaining crude oil assets, the company said. These include the Wattenberg oil trunk line and 50% ownership of Glass Mountain Pipeline, the company added.
RBC Capital Markets, Morgan Stanley (NYSE: MS), UBS Investment Bank and Wells Fargo Securities LLC are joint book-running managers.
Tulsa, Okla.-based Rose Rock Midstream LP handles domestic midstream assets.
Also based in Tulsa, SemGroup Corp. is a midstream service company.
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