BRENTWOOD, Tenn., March 12,
2024 /PRNewswire/ -- Delek Logistics Partners, LP
(NYSE: DKL) ("Delek Logistics") announced today that it has closed
its previously announced underwritten public offering of 3,584,416
common units representing limited partner interests in Delek
Logistics, including 467,532 common units sold pursuant to the
underwriters' full exercise of their option to purchase additional
common units, at a price of $38.50
per unit. Delek Logistics intends to use the gross proceeds of
approximately $132.5 million, after
underwriting fees and commissions and before other offering-related
expenses, to repay outstanding borrowings under its revolving
credit agreement.
The offering was made pursuant to an effective shelf
registration statement previously filed with the Securities and
Exchange Commission (the "SEC"). A prospectus supplement relating
to the offering has also been filed with the SEC.
Truist Securities, BofA Securities, Raymond James, MUFG, Barclays, Fifth Third
Securities, Wells Fargo Securities and Citizens JMP acted as joint
book-running managers for the offering; Mizuho, PNC Capital Markets
LLC and TPH & Co. acted as co-managers for the offering. A copy
of the prospectus supplement and accompanying base prospectus
relating to the offering may be obtained from any of the
underwriters, including Truist Securities at 3333 Peachtree Road
NE, 9th Floor, Atlanta, Georgia
30326, Attention Equity Capital Markets or by email at
TruistSecurities.prospectus@Truist.com; BofA Securities,
NC1-022-02-25 at 201 North Tryon Street, Charlotte, North Carolina 28255, Attention:
Prospectus Department or by email at
dg.prospectus_requests@bofa.com; and Raymond James at 880 Carillon Parkway,
St. Petersburg, Florida 33716 or
by email at prospectus@raymondjames.com. You may also obtain these
documents for free when they are available by visiting the SEC's
website at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The offering may be made only by means of a
prospectus and related prospectus supplement meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended (the "Securities Act").
About Delek Logistics Partners, LP
Delek Logistics is a midstream energy master limited partnership
headquartered in Brentwood,
Tennessee. Through its owned assets and joint ventures
located primarily in and around the Permian Basin, the Delaware Basin and other select areas in the
Gulf Coast region, Delek Logistics provides gathering, pipeline,
transportation, and other services for its customers in crude oil,
intermediates, refined products, natural gas, storage, wholesale
marketing, terminalling water disposal and recycling.
Delek US Holdings, Inc. (NYSE: DK) owns the general partner
interest as well as a majority limited partner interest in Delek
Logistics and is also a significant customer.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act, Section 21E of
the Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995, including statements
regarding the closing of the offering and the anticipated use of
the net proceeds therefrom. These statements may contain words such
as "possible," "believe," "should," "could," "would," "predict,"
"plan," "estimate," "intend," "may," "anticipate," "will," "if,"
"expect" or similar expressions, as well as statements in the
future tense, are made as of the date they were first issued and
are based on current expectations, estimates, forecasts and
projections as well as the beliefs and assumptions of management.
Forward-looking statements are subject to a number of risks and
uncertainties, many of which involve factors or circumstances that
are beyond Delek Logistics' control. Delek Logistics' actual
results could differ materially from those stated or implied in
forward-looking statements due to a number of factors, including,
but not limited to, market risks and uncertainties, including those
which might affect the offering, and the impact of any natural
disasters or public health emergencies. These and other potential
risks and uncertainties that could cause actual results to differ
from the results predicted are more fully detailed in Delek
Logistics' filings and reports with the SEC, including the Annual
Report on Form 10-K for the year ended December 31, 2023 and other reports and filings
with the SEC.
Information about Delek Logistics Partners, LP can be found on
its website (www.deleklogistics.com), investor relations webpage
(https://www.deleklogistics.com/investor-relations), news webpage
(https://www.deleklogistics.com/news-releases) and its Twitter
account (@DelekLogistics).
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SOURCE Delek Logistics Partners, LP