August 05, 2013 [Market Watch] - World Point Terminals, LP, a Delaware limited partnership (the "Partnership"), announced today that it has commenced an initial public offering of 8,750,000 common units representing limited partner interests in the Partnership pursuant to a registration statement on Form S-1 previously filed with the U.S.
Securities and Exchange Commission (“SEC”). Pursuant to the offering, the Partnership will sell 3,871,750 common units, and CPT 2010, LLC will sell 4,878,250 common units, to the underwriters.
The Partnership intends to grant the underwriters a 30-day option to purchase up to an additional 1,312,500 common units. The common units have been approved for listing on the New York Stock Exchange, subject to official notice of issuance, and will trade under the symbol “WPT.”
BofA Merrill Lynch, Credit Suisse, Citigroup and Stifel are acting as joint book-running managers for the offering. BNP Paribas, Stephens Inc. and Wedbush Securities are co-managers for the offering.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
About World Point Terminals
World Point Terminals, LP is a master limited partnership that owns, operates, develops and acquires terminals and other assets relating to the storage of light refined products, heavy refined products and crude oil.
The Partnership’s storage terminals are strategically located in the East Coast, Gulf Coast and Midwest regions of the United States. The Partnership is headquartered in St. Louis, Missouri.
