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PARTNERS' EQUITY
3 Months Ended
Mar. 31, 2015
PARTNERS' EQUITY  
PARTNERS' EQUITY

 

NOTE 6PARTNERS’ EQUITY

 

ATM equity issuance program (ATM program)

 

In August 2014, the Partnership entered into an Equity Distribution Agreement (the EDA) with five different financial institutions (Managers), pursuant to which the Partnership may from time to time, offer and sell common units having an aggregate offering price of up to $200 million.  Sales of such common units will be made by means of ordinary brokers’ transactions on the NYSE at market prices, in block transactions or as otherwise agreed upon by one or more of the Managers and the Partnership.

 

During the three months ended March 31, 2015, the Partnership issued 54,701 common units under the ATM program generating net proceeds of approximately $3.4 million, plus approximately $0.1 million from the General Partner to maintain its effective two percent interest. The commissions to our sales agents were approximately $34 thousand. The net proceeds were used for general partnership purposes.