KILGORE, Texas, Feb. 15, 2017 (GLOBE NEWSWIRE) -- Martin Midstream Partners L.P. (NASDAQ:MMLP) announced today that it has priced its previously announced public offering of 2,600,000 of its common units at a price to the public of $18.00 per unit. The closing of the offering is expected to occur on February 22, 2017, subject to satisfaction of customary closing conditions. Net proceeds from the offering (including any proceeds from the exercise of the underwriters’ option to purchase additional common units) will be used by the Partnership to fund a portion of the purchase price for the acquisition of an asphalt terminal facility in Hondo, Texas from Martin Resource Management Corporation, to repay a portion of the outstanding indebtedness incurred under its revolving credit facility and for general partnership purposes. Amounts repaid under the revolving credit facility may be re-borrowed to fund future acquisitions and expansion capital expenditures. RBC Capital Markets, LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. The Partnership has granted the underwriters a 30-day option to purchase up to an additional 390,000 common units in connection with the offering.

About Martin Midstream Partners L.P.

Martin Midstream Partners L.P. is a publicly traded limited partnership with a diverse set of operations focused primarily in the United States Gulf Coast region. The Partnership’s primary business segments include: (1) terminalling, storage and packaging services for petroleum products and by-products; (2) natural gas services, including liquids distribution services and natural gas storage; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) marine transportation services for petroleum products and by-products.