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Capital Product Partners -6.5% on news of 15M-unit offering

  • Capital Product Partners (NASDAQ:CPLP -6.5%) is sharply lower after pricing a public offering of 15M common units at $10.53/unit; CPLP also is granting the underwriters a 30-day option to purchase an additional 2.25M common units.
  • CPLP says it will use part of the net proceeds to partially fund the purchase of two 5K deadweight product carriers as well as the repurchase of ~$60M worth of common units from Capital Maritime & Trading, and for general corporate purposes.

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Capital Product Partners L.P. Common Units