Sprague Resources LP Announces Anticipated Closing Date of Merger with Hartree Affiliate and Intention to Delist Its Common Units
October 21 2022 - 4:45PM
Sprague Resources LP (the “Partnership”) (NYSE: SRLP) today
announced that it has notified the New York Stock Exchange (“NYSE”)
of the anticipated closing date of the previously-announced merger
transaction contemplated by that certain Agreement and Plan of
Merger, dated June 2, 2022, as amended, by and among the
Partnership, Sprague Resources GP LLC, and affiliates of Hartree
Partners, LP (the “Purchaser”). The Partnership anticipates that
the merger will close on or about November 1, 2022.
Upon the closing of the merger on the terms and conditions set
forth in the merger agreement, the Partnership will be a wholly
owned subsidiary of the Purchaser. Following completion of the
merger, the common units of the Partnership will cease to be listed
on the NYSE and will be deregistered under the Securities Exchange
Act of 1934.
About Sprague Resources LPSprague Resources LP
is a master limited partnership engaged in the purchase, storage,
distribution and sale of refined petroleum products and natural
gas. Sprague also provides storage and handling services for a
broad range of materials.
Cautionary Statement Regarding Forward Looking
StatementsAny statements in this press release about
future expectations, plans and prospects for Sprague Resources LP
or about Sprague Resources LP’s future expectations, beliefs,
goals, plans or prospects, including statements related to the
Partnership’s expectations regarding the delisting of its common
units and the closing of the Merger, constitute forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934. Any statements that are not statements of
historical fact (including statements containing the words
“believes,” “plans,” “anticipates,” “expects,” “estimates” and
similar expressions) should also be considered forward-looking
statements. These forward-looking statements involve risks and
uncertainties and other factors that are difficult to predict and
many of which are beyond management’s control. Although Sprague
believes that the assumptions underlying these statements are
reasonable, investors are cautioned that such forward-looking
statements are inherently uncertain and involve risks that may
affect our business prospects and performance causing actual
results to differ from those discussed in the foregoing release.
Such risks and uncertainties include, by way of example and not of
limitation: our ability to complete the merger in a timely manner,
or at all. These are not all of the important factors that could
cause actual results to differ materially from those expressed in
forward looking statements. Other applicable risks and
uncertainties have been described more fully in the Partnership’s
most recent Annual Report on Form 10-K filed with the U.S.
Securities and Exchange Commission (“SEC”) on March 4, 2022 and in
the Partnership's subsequent Form 10-Q, Form 8-K and other
documents filed with the SEC. Sprague undertakes no obligation and
does not intend to update any forward-looking statements to reflect
new information or future events. You are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release.
Investor Contact:Paul Scoff+1
800.225.1560investorrelations@spragueenergy.com
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