Blueknight Energy Partners Prices Public Offering At $7.61 A Unit

(RTTNews) - Blueknight Energy Partners L.P. (BKEP) Tuesday priced an underwritten public offering of 8.5 million common units representing limited partner interests of the Partnership at a public offering price of $7.61 per common unit.

The Partnership has also granted the underwriters a 30-day option to purchase up to about 1.28 million additional common units.

The offering is expected to close on or about September 22.

The Partnership intends to use the net proceeds from the offering for general partnership purposes, including the repayment of a portion of the outstanding borrowings under the Partnership's credit facility and partially funding the Partnership's Eaglebine pipeline project.