Genesis Energy (GEL) Commences 5M Common Unit Offering
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Genesis Energy, L.P. (NYSE: GEL) today announced the commencement of a registered underwritten public offering of 5,000,000 common units representing limited partner interests. The underwriters are expected to be granted a 30-day option to purchase up to 750,000 additional common units from us. We expect to use the net proceeds from the offering for general partnership purposes, including the repayment of outstanding borrowings under our revolving credit facility.
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