Delek Logistics ( (DKL) ) has provided an update.
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Delek Logistics Partners, LP successfully completed an underwritten public offering of over 4.4 million common units, including an option fully exercised by underwriters for additional units, priced at $39 each. The proceeds, approximately $166 million before expenses, are earmarked for redeeming outstanding convertible preferred units and repaying debts under the company’s credit facility. Even some of Delek’s executives, including President Avigal Soreq, participated in the purchase at the public offering price. The offering was facilitated by major financial institutions and was in accordance with SEC regulations.
Learn more about DKL stock on TipRanks’ Stock Analysis page.