Susser Petroleum Completes IPO, Nets $209.8M
Susser Petroleum Partners (NYSE: SUSP), a Delaware limited partnership, announced today that it has completed its initial public offering of 10,925,000 common units representing limited partner interests in Susser Petroleum Partners at $20.50 per common unit. The number of units issued at closing included 1,425,000 common units issued pursuant to full exercise of the underwriters' option to purchase additional common units. The common units of Susser Petroleum Partners are traded on the New York Stock Exchange under the symbol SUSP.
Net proceeds received by Susser Petroleum Partners from the sale of the common units totaled approximately $209.8 million, after deducting the underwriting discount and structuring fee, but before taking into account estimated offering expenses. The common units owned by the public following the completion of the offering represent a 49.9% limited partner interest in Susser Petroleum Partners. Susser Holdings Corporation (NASDAQ: SUSS), which owns the general partner of Susser Petroleum Partners, retains a 50.1% interest.
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