KNOT Offshore Completes Private Placement Of Series A Preferred Units For US$40 Million

Published: May 16 2017
Deal Summary

KNOT Offshore Partners LP, a company that owns and operates shuttle tankers, completed the private placement of 1,666,667 Series A preferred units, at a price of US$24 per unit, for gross proceeds of US$40 million (MM). The company received net proceeds of approximately US$38.8 MM, after deducting estimated fees and expenses.

The company intends to use the net proceeds from the offering for general partnership purposes, which may include acquisitions, capital expenditures or the repayment of indebtedness.

Deal history

Completed: On June 30, 2017, KNOT Offshore completed the private placement of 1,666,667 Series A preferred units, at a price of US$24 per unit, for gross proceeds of US$40 MM.

Announced: On May 16, 2017, KNOT Offshore agreed to issue 1,666,667 Series A preferred units, at a price of US$24 per unit, for gross proceeds of US$40 MM, in a private placement.

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