KNOT Offshore Partners to launch 3M-unit offering

|About: KNOT Offshore Partners LP (KNOP)|By:, SA News Editor

KNOT Offshore Partners (NYSE:KNOP) -4.3% after-hours as it commences a public offering of 3M common units; no mention is made of an underwriters option to purchase additional units.

KNOP says it plans to use the proceeds from the offering, and a related capital contribution by its general partner to maintain its general partner interest, for general partnership purposes, which may include acquisitions, capex, repaying debt and funding working capital.