Why Memorial Production Partners (MEMP) Stock Is Down Today

NEW YORK (TheStreet) -- Shares ofaMemorial Production Partnersa fell 3.8% to $22.28 in morning trading Thursday on high volume after the company priced an offering of common units. The company priced 13 million units at $22.29 a unit. The offering contains a 30-day option for underwriters to purchase up to an additional 1.95 million units. The company expects the offering to close on Sept. 9. Memorial Production Partners expects net proceeds of approximately $279.9 million, or $321.9 million if ...