Delek Logistics prices 4M unit public offering at $50 each

Delek Logistics Partners, LP (NYSE: DKL) has priced an underwritten public offering of 4,000,000 common units at $50.00 per unit, according to a press release from the Brentwood, Tennessee-based midstream energy partnership.

The company has granted underwriters a 30-day option to purchase up to 600,000 additional common units. Delek Logistics said it intends to use net proceeds to repay outstanding borrowings under its revolving credit agreement and for general partnership purposes.

None of the offered units will be purchased by Delek US Holdings, Inc. (NYSE: DK), which owns the general partner interest and a majority limited partner interest in Delek Logistics. As a result, Delek Holdings' ownership of outstanding Delek Logistics common units is expected to decline from 63.0% to approximately 58.0%, assuming full exercise of the underwriters' option.

The offering is expected to settle and close on August 14, 2026, subject to customary closing conditions. Truist Securities, Mizuho, and Raymond James & Associates are acting as joint book-running managers.

The offering is being made pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission.

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