KNOT Offshore Partners LP Announces Pricing of Public Offering of 3,000,000 Common Units
November 07 2017 - 8:54AM
Business Wire
KNOT Offshore Partners LP (the “Partnership”) (NYSE: KNOP)
announced that it has priced its previously announced public
offering of 3,000,000 common units, representing limited partner
interests in the Partnership, for total estimated gross proceeds of
approximately $65.7 million before deducting estimated offering
expenses payable by the Partnership. The offering is expected to
close on November 9, 2017, subject to customary closing
conditions.
The Partnership intends to use the net proceeds that it receives
in the offering, and the related capital contribution by its
general partner to maintain its general partner interest, for
general partnership purposes, which may include, among other
things, acquisitions, capital expenditures, repaying indebtedness
and funding working capital.
The Partnership owns, operates and acquires shuttle tankers
under long-term charters in the offshore oil production regions of
the North Sea and Brazil. The Partnership is structured as a master
limited partnership. The Partnership’s common units trade on the
New York Stock Exchange (“NYSE”) under the symbol “KNOP.”
BofA Merrill Lynch is acting as the sole bookrunner on the
offering. The underwriter may offer the common units from time to
time for sale in one or more transactions on the NYSE, in the
over-the-counter market, through negotiated transactions or
otherwise at market prices prevailing at the time of sale, at
prices related to such prevailing market prices or at negotiated
prices.
When available, copies of the prospectus supplement and
accompanying base prospectus relating to the offering may be
obtained free of charge on the Securities and Exchange Commission’s
website at http://www.sec.gov or from the underwriter as
follows:
BofA Merrill Lynch
NC1-004-03-43
200 North College Street, 3rd floor
Charlotte, NC 28255-0001
Attn: Prospectus Department
Email: dg.prospectus_requests@baml.com
This press release does not constitute an offer to sell or a
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 of the
common units is being made pursuant to an effective registration
statement on Form F-3 previously filed with the Securities and
Exchange Commission (the “SEC”) (File No. 333-218254). This
offering may be made only by means of a prospectus supplement and
accompanying base prospectus, which will be filed with the SEC.
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KNOT Offshore Partners LPJohn Costain, +44 1224
618420Chief Executive Officer and Chief Financial Officer
KNOT Offshore Partners (NYSE:KNOP)
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