Martin Midstream Partners (MMLP) Prices 2.3 Million Unit Offering at $36.15/Unit
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Martin Midstream Partners L.P. (Nasdaq: MMLP) announced today that it has priced its previously announced public offering of 2,300,000 of its common units at a price to the public of $36.15 per unit. The closing of the offering is expected to occur on January 25, 2012, subject to satisfaction of customary closing conditions. Estimated net proceeds from the offering will be used by the Partnership to repay outstanding indebtedness incurred under its revolving credit facility and for general partnership purposes. Amounts repaid under the revolving credit facility may be re-borrowed to fund future acquisitions and expansion capital expenditures. RBC Capital Markets, Wells Fargo Securities and UBS Investment Bank are acting as joint book-running managers for the offering. In addition, Raymond James is a senior co-managing underwriter and Baird, Stifel Nicolaus Weisel and BB&T Capital Markets are co-managing underwriters. The Partnership has granted the underwriters a 30-day option to purchase up to an additional 345,000 common units to cover any over-allotments in connection with the offering.
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