Martin Midstream Partners L.P. (MMLP) announced that it has priced its public offering of 1.65 million of common units at price to the public of $32.35 per unit. The closing of the offering is expected to occur on February 8.
Estimated net proceeds from the offering will be used by Martin Midstream Partners to repay outstanding indebtedness incurred under its revolving loan facility, which amounts may be reborrowed to fund both recent acquisitions and expansion capital expenditures.
Martin Midstream Partners has granted the underwriters a 30 day option to purchase up to an additional 247,500 common units in order to cover any over-allotments in connection with the offering.
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