This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Blueknight Energy Partners, L.P. Announces Rights Offering

Blueknight Energy Partners, L.P. (NASDAQ: BKEP) (“BKEP” or the “Partnership”), a midstream energy company focused on providing integrated services for companies engaged in the production, distribution and marketing of crude oil, asphalt and other petroleum products, today announced that it intends to launch a rights offering, pursuant to which it will distribute detachable freely-tradable rights (each a “Right” and collectively the “Rights”) pro rata to common unitholders of record (“Record Date Unitholders”) as of the close of business on September 27, 2011 (the “Record Date”). Record Date Unitholders will receive 0.5412 Rights for every common unit owned on the Record Date. Each whole Right will entitle the holder to acquire, for an exercise price of $6.50, a newly-issued Series A Preferred Unit of the Partnership.

The Partnership intends to distribute the Rights to the Record Date Unitholders on October 3, 2011. We have applied to list the Rights on the NASDAQ Global Market. The Rights are expected to trade during the month of October 2011 until the close of the NASDAQ Global Market on October 31, 2011, the expiration date of the Rights.

The Partnership has filed a registration statement on Form S-3 with the Securities and Exchange Commission that registers the Series A Preferred Units underlying the Rights and the common units into which the Series A Preferred Units are convertible. The registration statement was declared effective on July 26, 2011.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, 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 the registration or qualification under the securities laws of any such state or jurisdiction.

Important Dates

Record Date       September 27, 2011
Subscription period October 3, 2011 to October 31, 2011
Expiration Date (1) October 31, 2011

_____________________

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs