K-SEA Transportation Partners LP (KSP), a company involved in transportation and distribution of refined petroleum products, Friday said it would conduct a public offering of 2 million common units.
East Brunswick, New Jersey-based K-SEA intends to use the net proceeds from the offering to repay debts and for building new ships.
The company has provided the undertakers of the offering an option of purchase up to additional 300 thousand units.
Lehman Brothers Inc. will be the sole book-running manager in the public offering, while RBC Capital Markets will serve as co-lead manager.
Shares of KSP are currently trading at $25.04, down $1.56 or 5.86%, on a volume of about 459 thousand.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.