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.
For comments and feedback: editorial@rttnews.com