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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Delek Logistics Partners LP | NYSE:DKL | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.50 | 1.28% | 39.59 | 39.59 | 39.055 | 39.09 | 199,838 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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(Former name, former address and former fiscal year, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On March 7, 2024, Delek Logistics Partners, LP (the “Partnership”) issued a press release in accordance with Rule 135c under the Securities Act of 1933, as amended, announcing that the Partnership has priced its underwritten public offering of 3,116,884 common units representing limited partner interests in the Partnership at $38.50 per unit. The offering is being made pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission.
A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit |
Description | |
99.1 | Press release of Delek Logistics Partners, LP, dated March 7, 2024. | |
104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: March 8, 2024 | DELEK LOGISTICS PARTNERS, LP By: Delek Logistics GP, LLC its general partner | |||||
/s/ Reuven Spiegel | ||||||
Name: Reuven Spiegel Title: Executive Vice President and Chief Financial Officer (Principal Financial Officer) |
Exhibit 99.1
Delek Logistics Partners, LP Announces Pricing of Public Offering of Common Units
BRENTWOOD, Tenn., Mar. 7, 2024 Delek Logistics Partners, LP (NYSE: DKL) (Delek Logistics) announced today the pricing of its underwritten public offering of 3,116,884 common units representing limited partner interests in Delek Logistics at $38.50 per unit. The offering is being made pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (the SEC). A preliminary prospectus supplement relating to the offering has also been filed with the SEC. Delek Logistics has granted the underwriters a 30-day option to purchase up to 467,532 additional common units. Delek Logistics intends to use the net proceeds from the offering (including any net proceeds from the underwriters exercise of their option to purchase additional common units) to repay outstanding borrowings under its revolving credit agreement.
None of the common units offered in the offering will be purchased by Delek US Holdings, Inc. (Delek Holdings). As a result, Delek Holdings ownership of the outstanding Delek Logistics common units will decline from 78.7% prior to the offering to approximately 73.4% after the offering.
The offering is expected to settle and close on March 12, 2024, subject to the satisfaction of customary closing conditions.
Truist Securities, BofA Securities and Raymond James are acting as joint book-running managers for the offering. A copy of the preliminary prospectus supplement and accompanying base prospectus relating to the offering may be obtained from any of the underwriters, including Truist Securities at 3333 Peachtree Road NE, 9th Floor, Atlanta, Georgia 30326, Attention Equity Capital Markets or by email at TruistSecurities.prospectus@Truist.com; BofA Securities, NC1-022-02-25 at 201 North Tryon Street, Charlotte, North Carolina 28255, Attention: Prospectus Department or by email at dg.prospectus_requests@bofa.com; and Raymond James at 880 Carillon Parkway, St. Petersburg, Florida 33716 or by email at prospectus@raymondjames.com. You may also obtain these documents for free when they are available by visiting the SECs website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the Securities Act).
About Delek Logistics Partners, LP
Delek Logistics is a midstream energy master limited partnership headquartered in Brentwood, Tennessee. Through its owned assets and joint ventures located primarily in and around the Permian Basin, the Delaware Basin and other select areas in the Gulf Coast region, Delek Logistics provides gathering, pipeline, transportation, and other services for its customers in crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling.
Delek Holdings (NYSE: DK) owns the general partner interest as well as a majority limited partner interest in Delek Logistics and is also a significant customer.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including statements regarding the closing of the offering and the anticipated use of the net proceeds therefrom. These statements may contain words such as possible, believe, should, could, would, predict, plan, estimate, intend, may, anticipate, will, if, expect or similar expressions, as well as statements in the future tense, are made as of the date they were first issued and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Delek Logistics control. Delek Logistics actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including, but not limited to, market risks and uncertainties, including those which might affect the offering, and the impact of any natural disasters or public health emergencies. These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in Delek Logistics filings and reports with the SEC, including the Annual Report on Form 10-K for the year ended December 31, 2023 and other reports and filings with the SEC.
Document and Entity Information |
Mar. 07, 2024 |
---|---|
Cover [Abstract] | |
Amendment Flag | false |
Entity Central Index Key | 0001552797 |
Document Type | 8-K |
Document Period End Date | Mar. 07, 2024 |
Entity Registrant Name | DELEK LOGISTICS PARTNERS, LP |
Entity Incorporation State Country Code | DE |
Entity File Number | 001-35721 |
Entity Tax Identification Number | 45-5379027 |
Entity Address, Address Line One | 310 Seven Springs Way |
Entity Address, Address Line Two | Suite 500 |
Entity Address, City or Town | Brentwood |
Entity Address, State or Province | TN |
Entity Address, Postal Zip Code | 37027 |
City Area Code | (615) |
Local Phone Number | 771-6701 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Common Units Representing Limited Partner Interests |
Trading Symbol | DKL |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
1 Year Delek Logistics Partners Chart |
1 Month Delek Logistics Partners Chart |
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