Company sells 6.7 million common units at about $26.12 apiece in deal
By Devika Patel
Knoxville, Tenn., Dec. 4 – Teekay Offshore GP LLC, a partner of Teekay Offshore Partners LP, will raise about $175 million in a registered direct offering of common units, according to an 8-K filing with the Securities and Exchange Commission. The deal priced on Nov. 28.
The company will sell 6.7 million common units. The approximate purchase price of $26.12 per unit is a 9.28% discount to the Nov. 26 closing unit price of $27.10.
Proceeds will be used for general partnership purposes.
Teekay Offshore is a Hamilton, Bermuda-based provider of marine transportation and storage services to the offshore oil industry.
| Issuer: | Teekay Offshore GP LLC
|
| Issue: | Common units
|
| Amount: | $175 million (approximate)
|
| Units: | 6.7 million
|
| Price: | $26.12 (approximate)
|
| Warrants: | No
|
| Pricing date: | Nov. 28
|
| Stock symbol: | NYSE: TOO
|
| Stock price: | $27.10 at close Nov. 26
|
| Market capitalization: | $2.29 billion
|
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