Landmark Infrastructure Partners LP Announces Pricing of Public Offering of Series C Preferred Units

EL SEGUNDO, Calif., March 28, 2018 (GLOBE NEWSWIRE) -- Landmark Infrastructure Partners LP (Nasdaq:LMRK) (the “Partnership”) announced today that it has priced its underwritten public offering of 2,000,000 of its Series C Floating-to-Fixed Rate Cumulative Perpetual Redeemable Convertible Preferred Units (Liquidation Preference $25.00 per Unit) representing limited partner interests in the Partnership (“Series C Preferred Units”) at a public offering price of $25.00 per Series C Preferred Unit.  The underwriters have a 30-day option to purchase up to 300,000 additional Series C Preferred Units.  Distributions on the Series C Preferred Units will accrue and be cumulative from, and including, the date of original issuance and to, but excluding, May 15, 2025, at an annual rate equal to the greater of (i) 7.00% per annum and (ii) the sum of (a) three-Month LIBOR, as calculated on each applicable date of determination and (b) 4.698% per annum, based on the liquidation preference of $25.00 per Series C Preferred Unit.  On and after May 15, 2025, distributions on the Series C Preferred Units will accrue at 9.00% per annum, based on the liquidation preference of $25.00 per Series C Preferred Unit.  Distributions on the Series C Preferred Units will be payable quarterly in arrears.  The offering is expected to close on or about April 2, 2018, subject to customary closing conditions.

The Partnership expects to receive net proceeds of approximately $47.5 million (or approximately $54.7 million if the underwriters exercise in full their option to purchase an additional 300,000 Series C Preferred Units).  The Partnership intends to use the net proceeds from the offering to repay indebtedness.

Raymond James & Associates, Inc. and UBS Securities LLC are serving as joint book-running managers for the offering.  B. Riley FBR, Inc. and Janney Montgomery Scott LLC are serving as joint lead managers for the offering.  When available, a written prospectus and prospectus supplement that meets the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained from:

An electronic copy of the prospectus supplement and accompanying base prospectus is available on the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov.  This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering may be made only by means of a prospectus and prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.  The offering will be made pursuant to an effective shelf registration statement, as amended, which was previously filed by the Partnership with the SEC and a prospectus supplement and accompanying prospectus, which was previously filed by the Partnership with the SEC.

About Landmark Infrastructure Partners LP
The Partnership owns and manages a portfolio of real property interests and infrastructure assets that the Partnership leases to companies in the wireless communication, outdoor advertising and renewable power generation industries.

Cautionary Note Regarding Forward Looking Statements
Disclosures in this press release contain certain forward-looking statements within the meaning of the federal securities laws.  Statements that do not relate strictly to historical or current facts are forward-looking.  These statements contain words such as “possible,” “if,” “will,” “expect” and “assuming” and involve risks and uncertainties including, among others that our business plans may change as circumstances warrant and securities of the Partnership may not ultimately be offered to the public because of general market conditions or other factors.  Accordingly, readers should not place undue reliance on forward-looking statements as a prediction of actual results.  For more information concerning factors that could cause actual results to differ materially from those conveyed in the forward-looking statements, please refer to the Partnership’s publicly filed reports with the SEC, including the “Risk Factors” section of the Partnership’s Form 10-K for year ended December 31, 2017, which is incorporated by reference in the registration statement.  Any forward-looking statements in this press release are made as of the date of this press release and the Partnership undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or of which the Partnership becomes aware, after the date hereof, unless required by law.

CONTACT:

Marcelo Choi
Vice President, Investor Relations
(213) 788-4528
ir@landmarkmlp.com