Enviva Partners (EVA) IPO Opens Flat

Today's IPO for Enviva Partners, LP (NYSE: EVA) opened for trading at $20 after pricing 10,000,000 common units at $20.

Upon the consummation of the offering, the public will own common units representing a 42.0% limited partner interest in the Partnership (or 48.3% if the underwriters exercise in full their option to purchase additional common units). Enviva Holdings, LP (the “Sponsor”) will own common units and subordinated units representing a 58.0% limited partner interest in the Partnership (or 51.7% if the underwriters exercise in full their option to purchase additional common units).

Barclays Capital Inc., Goldman, Sachs & Co., RBC Capital Markets, LLC and Citigroup Global Markets Inc. are acting as joint book-running managers for the offering, and J.P. Morgan Securities LLC, Raymond James & Associates, Inc., Mitsubishi UFJ Securities (USA), Inc. and U.S. Capital Advisors are acting as co-managers for the offering.

Enviva Partners, LP, a growth-oriented limited partnership, is the world’s largest supplier by production capacity of utility-grade wood pellets to major power generators. Enviva Partners owns and operates five wood pellet production plants in the Southeastern U.S. that have a combined wood pellet production capacity of approximately 1.7 million metric tons per year and a dry-bulk, deep-water marine terminal at the Port of Chesapeake, VA.

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