OKLAHOMA CITY -- (Business Wire)
Blueknight Energy Partners, L.P. (NASDAQ: BKEP) (“BKEP” or the
“Partnership”) today announced that it has priced an underwritten public
offering of 8,500,000 common units representing limited partner
interests of the Partnership at a public offering price of $7.61 per
common unit. The offering is expected to close on or about September 22,
2014, subject to customary closing conditions. The Partnership has also
granted the underwriters a 30-day option to purchase up to 1,275,000
additional common units. The Partnership intends to use the net proceeds
from the offering, including any net proceeds from the underwriters’
exercise of their option to purchase additional common units, for
general partnership purposes, including the repayment of a portion of
the outstanding borrowings under the Partnership’s credit facility and
partially funding the Partnership’s Eaglebine pipeline project.
Wells Fargo Securities, RBC Capital Markets and BofA Merrill Lynch are
acting as joint book-running managers for the offering. Stephens Inc.
and SunTrust Robinson Humphrey are acting as co-managers for the
offering.
When available, copies of the prospectus supplement and accompanying
base prospectus relating to the public offering may be obtained free of
charge on the Securities and Exchange Commission’s website at www.sec.gov
or from the underwriters of the offering:
-
Wells Fargo Securities, Attn: Equity Syndicate Dept., 375 Park Avenue,
New York, NY 10152. By telephone (800) 326-5897 or by email cmclientsupport@wellsfargo.com;
-
RBC Capital Markets, Attn: Equity Syndicate, Three World Financial
Center, 200 Vesey Street, 8th Floor, New York, NY 10281. By
telephone (877) 822-4089;
-
BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New
York, NY 10038. By email at dg.prospectus_requests@baml.com.
The common units are being offered and sold pursuant to an effective
shelf registration statement on Form S-3 previously filed with the
Securities and Exchange Commission. This press release does not
constitute an offer to sell or the solicitation of an offer to buy the
securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. The
offering is being made only by means of a prospectus and related
prospectus supplement meeting the requirements of Section 10 of the
Securities Act of 1933, as amended.
Forward-Looking Statements
This release may include forward-looking statements. Statements included
in this release that are not historical facts are forward-looking
statements. Such forward-looking statements are subject to various risks
and uncertainties. These risks and uncertainties include, among other
things, uncertainties relating to the Partnership’s future cash flows
and operations, the Partnership’s ability to pay future distributions,
future market conditions, current and future governmental regulation,
future taxation and other factors discussed in the Partnership’s filings
with the SEC. If any of these risks or uncertainties materializes, or
should underlying assumptions prove incorrect, actual results or
outcomes may vary materially from those expected. The Partnership
undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
About Blueknight Energy Partners, L.P.
BKEP owns and operates a diversified portfolio of complementary
midstream energy assets consisting of approximately 7.8 million barrels
of crude oil storage located in Oklahoma and Texas, approximately 6.6
million barrels of which are located at the Cushing Oklahoma
Interchange, approximately 920 miles of crude oil pipeline located
primarily in Oklahoma and Texas, approximately 300 crude oil
transportation and oilfield services vehicles deployed in Kansas,
Colorado, New Mexico, Oklahoma and Texas and approximately 7.0 million
barrels of combined asphalt product and residual fuel oil storage
located at 42 terminals in 21 states. BKEP provides integrated services
for companies engaged in the production, distribution and marketing of
crude oil, asphalt and other petroleum products. BKEP is headquartered
in Oklahoma City, Oklahoma.
Contacts:
BKEP
Investor Relations, 918-237-4032
investor@bkep.com
or
Media
Contact:
Brent Gooden, 405-715-3232 or 405-818-1900
Source: Blueknight Energy Partners, L.P.
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