Genesis Energy (GEL) Completes 5.75 Million Share Offering
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Genesis Energy, L.P. (NYSE: GEL) has completed its previously announced underwritten public offering of common units. Including the overallotment option, which was exercised in full by the underwriters, the Partnership sold a total of 5,750,000 common units at $30.80 per common unit.
Total net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses, were approximately $169 million. The Partnership intends to use the net proceeds from the offering for general partnership purposes, including the repayment of outstanding borrowings under its revolving credit facility.
Total net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses, were approximately $169 million. The Partnership intends to use the net proceeds from the offering for general partnership purposes, including the repayment of outstanding borrowings under its revolving credit facility.
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