ARKO Petroleum completes $200 million initial public offering

ARKO Petroleum Corp. (NASDAQ: APC) completed a $200 million initial public offering that closed Feb. 13, according to a press release from legal counsel Greenberg Traurig, LLP.

The wholesale fuel distributor issued 11,111,111 shares of Class A common stock at $18 per share, generating net proceeds of approximately $183.2 million. Trading began Feb. 12 on the Nasdaq Capital Market under the ticker symbol "APC."

ARKO Petroleum is a subsidiary of ARKO Corp. (NASDAQ: ARKO). Following the offering's completion, ARKO Corp. retained ownership of approximately 75.9% of APC's economic interest and 94% of the combined voting power of its outstanding common stock.

The company operates as one of the largest wholesale fuel distributors in North America, supplying fuel across more than 30 U.S. states.

Greenberg Traurig represented both ARKO Petroleum Corp. and ARKO Corp. in the transaction. The legal team was led by Drew M. Altman, co-chair of the Miami Corporate Practice, along with Win Rutherfurd, a Boston and Miami Corporate shareholder, and Theodore I. Blum, chair of the Atlanta office and Atlanta Corporate Practice.

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