Delek Logistics Partners LP (DKL) said late Tuesday it priced a public offering of about 3.8 million common units at $39 per unit.
Underwriters have been granted a 30-day option to purchase up to 576,922 additional common units.
Net proceeds will be used to fund the redemption of preferred units, and debt repayments, the partnership said.
Delek Logistics said that Delek US Holdings' stake in the company will decline to 65.2% from 70.4% as a result of the offering.
Closing of the offering is expected to occur on Thursday, subject to customary closing conditions.
Price: 41.32, Change: -3.35, Percent Change: -7.50
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