Company: SPH
Filing Date: 2025-02-12
Form Type: S-3
Source: 0001193125-25-024546
Chunk: 2

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-02-12
Form: S-3
Chunk 2
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 sale from time to time of our common units (“common units”) representing limited partner interests in Suburban Propane Partners, L.P. (the “Partnership”), having an aggregate offering amount of up to $100.0 million. Sales of our common units, if any, under this prospectus may be made in sales deemed to be an “at the market offering” as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended (the “Securities Act”), including sales made directly on or through the New York Stock Exchange (“NYSE”) or any other existing trading market for our common units. The Agents are not required to sell any specific number or dollar amount of our common units but will use their commercially reasonable efforts, as our agents and subject to the terms of the equity distribution agreement, to sell our common units offered, as instructed by us. There is no arrangement for funds to be received in any escrow, trust or similar arrangement. Under the terms of the equity distribution agreement, we also may sell our common units to any of the Agents as principal for its own account at a price agreed upon at the time of the sale. If we sell our common units to the Agents, as principal, we will enter into a separate agreement with the Agent and we will describe that agreement in a separate prospectus supplement or pricing supplement to the extent required by law. See “Plan of Distribution.” Each of the Agents will be entitled to a commission of an amount up to % of the gross sales price per common unit sold under the equity distribution agreement by such Agent acting as our agent with the exact amount to be agreed by the Partnership and the Agents. In connection with the sale of our common units on our behalf, the Agents may be deemed to be an “underwriter” within the meaning of the Securities Act. Our common units are currently listed on the NYSE under the symbol “SPH.” On February 10, the last reported sale price of our common units on the NYSE was $21.36 per common unit. Investing in our common units involves a high degree of risk. You should carefully consider the risks that are described in the “ Risk Factors” section beginning on page 6 of this prospectus and those found in the documents incorporated by reference herein and therein. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense