Quicksilver Gas Services LP said its offering of 4 million limited partner units was priced at $21.10 a piece, a 5 percent discount to the stock's close on Thursday.
Quicksilver said it expects to use the net proceeds from the offering to repay outstanding borrowings under its revolving credit facility.
The company said it subsequently intends to re-borrow about $87.1 million under this facility in order to fund the acquisition of Alliance midstream gathering and treating assets, from Quicksilver Resources Inc.
The company said it expects the offering to close on Dec. 16, and said underwriters will have an over-allotment option of 600,000 additional LPU.
Wells Fargo Securities, BofA Merrill Lynch, Citi, UBS Investment Bank and Barclays Capital are acting as joint book-running managers, the company said in a statement.
Shares of the company were trading down 6 percent at $20.98 Friday before-the-bell on the New York Stock Exchange. (Reporting by Arundhati Ramanathan in Bangalore; ; Editing by Jarshad Kakkrakandy)