BRENTWOOD, Tenn., March 7,
2024 /PRNewswire/ -- Delek Logistics Partners, LP
(NYSE: DKL) ("Delek Logistics") announced today that it has
commenced an underwritten public offering of $120,000,000 of common units representing limited
partner interests in Delek Logistics pursuant to an effective shelf
registration statement previously filed with the Securities and
Exchange Commission (the "SEC"). A preliminary prospectus
supplement relating to the offering will also be filed with the
SEC. Delek Logistics intends to grant the underwriters a 30-day
option to purchase up to an additional $13,500,000 of common units. The offering is
subject to market and other conditions, and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering.
Delek Logistics 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) to
repay outstanding borrowings under its revolving credit
agreement.
Delek US Holdings, Inc. ("Delek Holdings"), the sponsor of Delek
Logistics and owner of its general partner, has indicated an
interest in purchasing up to $30,000,000 of the common units offered in the
offering at the price offered to the public. Because this
indication is not a binding agreement or commitment to purchase,
Delek Holdings may elect not to purchase any units in the offering,
or the underwriters may elect not to sell any units in the offering
to Delek Holdings. In the event that Delek Holdings confirms its
interest, Delek Logistics will request that the underwriters
consider selling to Delek Holdings such amount of the common units
offered in the offering.
Truist Securities, BofA Securities and Raymond James are acting as joint book-running
managers for the offering. A copy of the preliminary prospectus
supplement and accompanying base prospectus relating to this
offering may be obtained from any of the underwriters, including
Truist Securities at 3333 Peachtree Road NE, 9th Floor,
Atlanta, Georgia 30326, Attention
Equity Capital Markets or by email at
TruistSecurities.prospectus@Truist.com; BofA Securities,
NC1-022-02-25 at 201 North Tryon Street, Charlotte, North Carolina 28255, Attention:
Prospectus Department or by email at
dg.prospectus_requests@bofa.com; and Raymond James at 880 Carillon Parkway,
St. Petersburg, Florida 33716 or
by email at prospectus@raymondjames.com. You may also obtain these
documents for free when they are available by visiting the SEC's
website at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The offering may be 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 (the "Securities Act").
About Delek Logistics Partners, LP
Delek Logistics is a midstream energy master limited partnership
headquartered in Brentwood,
Tennessee. Through its owned assets and joint ventures
located primarily in and around the Permian Basin, the Delaware Basin and other select areas in the
Gulf Coast region, Delek Logistics provides gathering, pipeline,
transportation, and other services for its customers in crude oil,
intermediates, refined products, natural gas, storage, wholesale
marketing, terminalling water disposal and recycling.
Delek Holdings (NYSE: DK) owns the general partner interest as
well as a majority limited partner interest in Delek Logistics and
is also a significant customer.
Forward Looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act, Section 21E of
the Securities Exchange Act of 1934, as amended, and Private
Securities Litigation Reform Act of 1995, including statements
regarding the closing of the offering and the anticipated use of
the net proceeds therefrom. These statements may contain words such
as "possible," "believe," "should," "could," "would," "predict,"
"plan," "estimate," "intend," "may," "anticipate," "will," "if,"
"expect" or similar expressions, as well as statements in the
future tense, are made as of the date they were first issued and
are based on current expectations, estimates, forecasts and
projections as well as the beliefs and assumptions of management.
Forward-looking statements are subject to a number of risks and
uncertainties, many of which involve factors or circumstances that
are beyond Delek Logistics' control. Delek Logistics' actual
results could differ materially from those stated or implied in
forward-looking statements due to a number of factors, including,
but not limited to, market risks and uncertainties, including those
which might affect the offering, and the impact of any natural
disasters or public health emergencies. These and other potential
risks and uncertainties that could cause actual results to differ
from the results predicted are more fully detailed in Delek
Logistics' filings and reports with the SEC, including the Annual
Report on Form 10-K for the year ended December 31, 2023 and other reports and filings
with the SEC.
Information about Delek Logistics Partners, LP can be found on
its website (www.deleklogistics.com), investor relations webpage
(https://www.deleklogistics.com/investor-relations), news webpage
(https://www.deleklogistics.com/news-releases) and its Twitter
account (@DelekLogistics).
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SOURCE Delek Logistics Partners, LP