ABERDEEN, Scotland--(BUSINESS WIRE)--
KNOT Offshore Partners LP (the “Partnership”) (NYSE: KNOP) announced
today the commencement of an underwritten public offering of 2,500,000
common units, representing limited partner interests in the Partnership.
The Partnership expects to grant the underwriter a 30-day option to
purchase up to an additional 375,000 common units.
The Partnership intends to use the net proceeds that it receives in the
offering for general partnership purposes, which may include, among
other things, repaying indebtedness and funding working capital, capital
expenditures or acquisitions.
The Partnership owns, operates and acquires shuttle tankers under
long-term charters in the offshore oil production regions of the North
Sea and Brazil. The Partnership is structured as a master limited
partnership. The Partnership’s common units trade on the New York Stock
Exchange under the symbol “KNOP.”
Barclays is acting as the sole bookrunner on the offering.
When available, copies of the preliminary prospectus supplement,
prospectus supplement and accompanying base prospectus relating to the
offering may be obtained free of charge on the Securities and Exchange
Commission’s website at http://www.sec.gov
or from the underwriter as follows:
Barclays
c/o Broadridge Financial Solutions
1155 Long Island
Avenue
Edgewood, NY 11717
Telephone: (888) 603-5847
Email:
barclaysprospectus@broadridge.com
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein, 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 offering of the common units is being made pursuant to
an effective registration statement on Form F-3 previously filed with
the Securities and Exchange Commission (the “SEC”) (File No.
333-195976). This offering may be made only by means of a preliminary
prospectus supplement, final prospectus supplement and accompanying base
prospectus, which will be filed with the SEC.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170104006433/en/
Source: KNOT Offshore Partners LP