KNOT Offshore Completes Public Offering Of Units For US$65 Million

Published: Nov 06 2017
Deal Summary

KNOT Offshore Partners LP, a company that owns and operates shuttle tankers, completed the public offering of 3 million (MM) common units, at a price of US$21.68 per unit, for gross proceeds of US$65.04 MM.

Merrill Lynch, Pierce, Fenner & Smith Inc acted as book-running manager, while Vinson & Elkins L.L.P. and Watson Farley & Williams LLP acted as legal advisors to the company for the offering. The company intends to use the proceeds from the offering for general corporate purposes, including acquisitions, capital expenditures, repaying indebtedness and funding working capital.

Deal history

Completed: On November 9, 2017, KNOT Offshore completed the public offering of 3 MM common units, at a price of US$21.68 per unit, for gross proceeds of approximately US$65.04 MM.

Pricing: On November 7, 2017, KNOT Offshore priced the public offering of 3 MM common units, for gross proceeds of approximately US$65.7 MM.

Filing/Announced: On November 6, 2017, KNOT Offshore filed the prospectus with the US Securities and Exchange Commission to issue 3 MM units in a public offering.

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