ROHSTOFF INTERNATIONAL

0:30 | 21.03.2017
Genesis Energy, L.P. Prices Public Offering of Common Units

Genesis Energy, L.P. (NYSE: GEL) today announced the pricing of a
registered underwritten public offering of 4,000,000 common units
representing limited partner interests for total gross proceeds (before
estimated offering expenses) of $124.0 million. We granted the
underwriters a 30-day option to purchase up to 600,000 additional common
units from us. The underwriters intend to offer the common units for
sale from time to time in one or more transactions (which may include
block transactions), to purchasers directly or through agents, or
through brokers in brokerage transactions on the New York Stock
Exchange, or to dealers, in negotiated transactions or in combination of
such methods of sale, at a fixed price or prices, which may be changed,
or at market prices prevailing at the time of sale, at prices related to
such prevailing market prices or at negotiated prices. We intend 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 funding acquisitions
(including organic growth projects) or repaying a portion of the
borrowings outstanding under our revolving credit facility. The offering
is expected to settle and close on March 24, 2017, subject to customary
closing conditions.

Wells Fargo Securities and Baird 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:

 

Wells Fargo Securities, LLC

 

 

 

 

Robert W. Baird & Co. Incorporated

Attn: Equity Syndicate Dept.

Attention: Syndicate Department

375 Park Avenue

777 East Wisconsin Avenue

New York, New York 10152

Milwaukee, WI 53202
cmclientsupport@wellsfargo.com

syndicate@rwbaird.com
(800) 326-5897

(800) 792-2473

 

You may also obtain these documents for free by visiting the SEC’s
website at www.sec.gov.

This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities 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
offer is being made only through the prospectus supplement and
accompanying base prospectus, each of which is part of our effective
shelf registration statement on Form S-3 previously filed with the
Securities and Exchange Commission.

Genesis Energy, L.P. is a diversified midstream energy master limited
partnership headquartered in Houston, Texas. Genesis’ operations include
onshore and offshore pipeline transportation, refinery services, marine
transportation and supply and logistics. Genesis’ operations are
primarily located in Texas, Louisiana, Arkansas, Mississippi, Alabama,
Florida, Wyoming and the Gulf of Mexico.

This press release includes forward-looking statements as defined under
federal law. Although we believe that our expectations are based upon
reasonable assumptions, we can give no assurance that our goals will be
achieved, including statements regarding our ability to close the
offering successfully and to use the net proceeds as indicated above.
Actual results may vary materially. We undertake no obligation to
publicly update or revise any forward-looking statement.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170320006313/en/


 

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