Latest Headlines
- ECSO: Truck Stolen In Bratt, Note Left Behind Claims Woman Was Attacked, Kidnapped
- Two Northview High Career Academies Create Food Cart
- Special Election To Replace Matt Gaetz In Congress Set For April Fools’ Day
- Food Distribution Held Friday In Walnut Hill, Saturday In Cantonment
- Escambia Schools Announce Top 10 Teachers Of The Year
- Still Time To Sign Up! Let The Miracle League Fry Your Thanksgiving Turkey
- Tate Aggies Beat Atmore Blue Devils 71-68 In Nailbiter Home Opener (With Gallery)
- FDLE Charges Escambia Man With Child Porn Possession
- Cantonment Man Charged With Sexual Battery, Molestation Of 5-Year-Old
- Truck Driver Airlifted After Crash On Quintette Road
Area Pipeline Company Works To Raise $128 Million
March 22, 2010
Genesis Energy LP has announced an effort to raise $128 million from the sale of new units.
The action will move cash from operations to the unit owners. Genesis’ operations include pipelines in the North Escambia area, both in Alabama and Florida.
The company announced the commencement of a secondary public offering of 6,000,000 common units owned by Denbury Onshore, LLC and Denbury Gathering & Marketing, Inc., each an affiliate of Denbury Resources Inc., and James E. Davison, one of the directors of their general partner, and two other members of the Davison family. The underwriters have been granted a 30-day option to purchase up to 937,500 additional common units owned by the Davisons.
Genesis will not receive any of the proceeds from this offering and the number of our outstanding common units will remain unchanged.
After a 52-week low of $9.50 per share, Genesis stock (GEL) closed earlier last week at a 52-week high of $21.67.
Comments