Delek Logistics Partners, LP Announces Closing of Public Offering of Common Units and Full Exercise of Underwriters’ Option to Purchase Additional Units
Delek Logistics Partners, LP (NYSE: DKL) (“Delek Logistics”) announced today that it has closed its previously announced underwritten public offering of 4,600,000 common units representing limited partner interests in Delek Logistics, including 600,000 common units sold pursuant to the underwriters’ full exercise of their option to purchase additional common units, at a price of $50.00 per unit. Delek Logistics intends to use the gross proceeds of approximately $220.8 million, after underwriting fees and commissions and before other offering-related expenses, to repay outstanding borrowings under its revolving credit agreement and for general partnership purposes.
None of the common units sold in the offering were purchased by Delek US Holdings, Inc. (“Delek Holdings”). As a result, Delek Holdings' ownership of the outstanding Delek Logistics common units declined from 63.0% prior to the offering to approximately 58.0% following the closing of the offering.
The offering was made pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (the “SEC”). A prospectus supplement relating to the offering has also been filed with the SEC.
