Martin Midstream Partners (MMLP) Commences 1.63 Million Share Offering
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Martin Midstream Partners L.P. (Nasdaq: MMLP) has commenced an underwritten public offering of 1,630,000 common units (plus up to an additional 244,500 common units to cover over-allotments, if any) under its existing shelf registration statement.
The Partnership intends to use the net proceeds from the offering to repay outstanding indebtedness incurred under its revolving credit facility in connection with the acquisition of certain assets from L&L Holdings and other recent acquisitions. Amounts repaid under the revolving credit facility may be re-borrowed to fund future acquisitions and expansion capital expenditures. Wells Fargo Securities, RBC Capital Markets and UBS Investment Bank are acting as joint book-running managers for the offering. In addition, Baird is a co-managing underwriter.
The Partnership intends to use the net proceeds from the offering to repay outstanding indebtedness incurred under its revolving credit facility in connection with the acquisition of certain assets from L&L Holdings and other recent acquisitions. Amounts repaid under the revolving credit facility may be re-borrowed to fund future acquisitions and expansion capital expenditures. Wells Fargo Securities, RBC Capital Markets and UBS Investment Bank are acting as joint book-running managers for the offering. In addition, Baird is a co-managing underwriter.
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