BLUEKNIGHT ENERGY PARTNERS, L.P. (NASDAQ:BKEP) Files An 8-K Unregistered Sales of Equity Securities

BLUEKNIGHT ENERGY PARTNERS, L.P. (NASDAQ:BKEP) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities.

Story continues below

to a Purchase & Sale Agreement, dated as of November 22, 2017 (the “Purchase Agreement”), among two wholly-owned subsidiaries of Blueknight Energy Partners, L.P. (the “Partnership”) and Ergon Asphalt & Emulsions, Inc. (“EA&E”) and Ergon Terminaling, Inc. (“ETI”), both subsidiaries of Ergon, Inc., the Partnership has agreed to acquire an asphalt terminalling facility located in Bainbridge, Georgia from EA&E and ETI for a total purchase price of $10.5 million, consisting of 1,898,380 common units (the “Common Units”) representing limited partner interests in the Partnership (the “Acquisition”). The Acquisition is expected to close in the fourth quarter of 2017, subject to customary closing conditions.

The issuance of the Common Units under the Purchase Agreement will be made in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended, to Section 4(a)(2) thereof and the regulations promulgated thereunder. The Partnership will rely on this exemption from registration based in part on representations made by EA&E and ETI.


About BLUEKNIGHT ENERGY PARTNERS, L.P. (NASDAQ:BKEP)

Blueknight Energy Partners, L.P. is a master limited partnership company. The Company provides integrated terminalling, storage, gathering and transportation services for companies engaged in the production, distribution and marketing of crude oil and liquid asphalt cement. It operates in four segments: asphalt terminalling services, which provides asphalt product and residual fuel terminalling, storage and blending services at its terminalling and storage facilities; crude oil terminalling and storage services, which provides crude oil terminalling and storage services at its terminalling and storage facilities; crude oil pipeline services, which owns and operates pipeline systems, the Mid-Continent system, the East Texas system and Eagle North system, that gather crude oil purchased by its customers and transports it to refiners, and crude oil trucking and producer field services, which uses its owned and leased tanker trucks to gather crude oil for its customers.

An ad to help with our costs