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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Thu., Oct. 2, 12:21 AM

Slide #12. Martin Midstream Partners L.P. Secondary Offering

Company: Martin Midstream Partners L.P. (NASDAQ:MMLP)
Date announced: 9/23/2014
Shares Offered: 3,000,000
Date of Pricing: 9/24/2014
Price Per Share: $36.91
Secondary Offering Details: Martin Midstream Partners L.P. (Nasdaq:MMLP) (the "Partnership") announced today that it has commenced an underwritten public offering of 3,000,000 common units (plus up to an additional 450,000 common units pursuant to an option to be granted to the underwriters) under its existing shelf registration statement. The Partnership intends to use the net proceeds from the offering (including any proceeds from the exercise of the underwriters' option to purchase additional common units) to repay a portion of the 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. BofA Merrill Lynch, RBC Capital Markets, LLC, Wells Fargo Securities, LLC, Deutsche Bank Securities Inc., Goldman, Sachs & Co., Morgan Stanley & Co. LLC, and Raymond James & Associates, Inc. are acting as joint book-running managers for the offering. - updated 9/24 -Martin Midstream Partners L.P. (Nasdaq:MMLP) (the "Partnership") announced today that it has priced its previously announced public offering of 3,000,000 of its common units at a price to the public of $36.91 per unit. The closing of the offering is expected to occur on September 29, 2014, subject to satisfaction of customary closing conditions. Net proceeds from the offering (including any proceeds from the exercise of the underwriters' option to purchase additional common units) will be used by the Partnership to repay a portion of the 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. BofA Merrill Lynch, RBC Capital Markets, LLC, Wells Fargo Securities, LLC, Deutsche Bank Securities Inc., Goldman, Sachs & Co., Morgan Stanley & Co. LLC, and Raymond James & Associates, Inc. are acting as joint book-running managers for the offering. In addition, BB&T Capital Markets, a division of BB&T Securities, LLC, MLV & Co. LLC and Stephens Inc. are the co-managing underwriters. The Partnership has granted the underwriters a 30-day option to purchase up to an additional 450,000 common units in connection with the offering.

Martin Midstream Partners is a limited partnership with a set of operations focused primarily in the U.S. Gulf Coast region. Co.'s four primary business lines include: terminalling and storage services for petroleum products and by-products including the refining, blending and packaging of finished lubricants; natural gas services; sulfur and sulfur-based products gathering, processing, marketing, manufacturing and distribution; and marine transportation services for petroleum products and by-products. The petroleum products and by-products Co. collects, transports, stores and markets are produced primarily by oil and gas companies.
Open the MMLP Page at The Online Investor »

Company Name:  Martin Midstream Partners LP
Website:  www.martinmidstream.com
Sector:  Oil & Gas Equipment & Services
Number of ETFs Holding MMLP:  2
Total Market Value Held by ETFs:  $8.63M
Total Market Capitalization:  $1.01B
% of Market Cap. Held by ETFs:  0.85%
 

Open the MMLP Page at The Online Investor (in a new window) »

October 2, 2014    12:21 AM Eastern
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Buy (2.83 out of 4)
34th percentile
(ranked lower than approx. 66% of all stocks covered)
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