NuStar Energy Closes 7.13M Share, $337.1M Public Offering
NuStar Energy (NYSE: NS) announced today it has closed its previously announced public offering of 7,130,000 common units representing limited partner interests at $48.94 per common unit, including 930,000 common units sold to the underwriters pursuant to their option to purchase additional units, which the underwriters exercised in full on September 7, 2012. In the offering, 490,000 common units were sold to William E. Greehey, the Chairman of the board of directors of NuStar GP, LLC.
Total net proceeds (before expenses) from the sale of 7,130,000 common units in the offering are approximately $337.1 million. The partnership currently intends to use the net proceeds from the offering, including the general partner's proportionate capital contribution, for general partnership purposes, including repayment of outstanding borrowings under its revolving credit facility, working capital purposes and to finance potential future acquisitions.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.