Martin Midstream Partners L.P. Announces Extension of Early Participation Date, Rights Offering Funding Date, Expiration Time and Settlement Date of Exchange Offer, Cash Tender Offer and Consent Solicitations for Certain Outstanding Notes
These dates are being extended to provide time for administrative compliance with the steps necessary to respond to the Exchange Offer and Cash Tender Offer.
The Exchange Offer, Cash Tender Offer and related consent solicitations (collectively, the “Offers”) are being made pursuant to the Issuers’ Exchange Offer Memorandum, Consent Solicitation, Rights Offering, and Disclosure Statement Soliciting Acceptances of a Prepackaged Plan of Reorganization (the “Offering Memorandum”) and Offer to Purchase and Consent Solicitation Statement (the “Offer to Purchase”), each dated
Other than the extension described above, all other terms and conditions of the Offers and the Partnership’s solicitation of votes (the “Plan Solicitation”) to accept a prepackaged plan of reorganization, including, without limitation, the Voting Record Date and Voting Deadline remain unchanged.
The Partnership may further amend, extend or, subject to certain conditions and applicable law, terminate each Offer at any time in its sole discretion. The Partnership’s obligation to accept for exchange or purchase, as applicable, any Existing Notes that are validly tendered and not validly withdrawn and accepted for exchange or purchase, as applicable, pursuant to the Offers is condition on the satisfaction or waiver by the Partnership of the applicable conditions described in the Offering Memorandum or Offer to Purchase.
Neither the Issuers nor any other person makes any recommendation as to whether holders of Existing Notes should tender their Existing Notes in the Exchange Offer or Cash Tender Offer or provide their consents in the consent solicitation, and no one has been authorized to make such a recommendation. Eligible holders of Existing Notes should read carefully the Offering Memorandum or Offer to Purchase before making an investment decision to participate in the Exchange Offer or Cash Tender Offer, as applicable. In addition, holders of Existing Notes must make their own decisions as to whether to tender their Existing Notes in the Exchange Offer or Cash Tender Offer, as applicable, and provide the related consent in the consent solicitation, and if they so decide, the principal amount of the Existing Notes to tender.
This press release is for informational purposes only and does not constitute an offer to purchase or exchange or a solicitation of an offer to purchase or exchange any Existing Notes or an offer to sell securities. The Exchange Offer, the related consent solicitation and the related Plan Solicitation are being made solely through, and pursuant to the terms of the confidential Offering Memorandum. The Cash Tender Offer and the related consent solicitation are being made solely through, and pursuant to, the terms of the confidential Offer to Purchase. The Offers are not being made to holders of the Existing Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. The Issuers’ 11.50% senior secured second lien notes due 2025 and the New Notes being issued in the Exchange Offer and upon exercise of rights acquired pursuant to the Rights Offering are also subject to further restrictions on transfer as set forth in the Offering Memorandum and the Offer to Purchase, as applicable.
Forward Looking Statements
Statements about the Partnership’s outlook and all other statements in this release other than historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements and all references to financial estimates rely on a number of assumptions concerning future events and are subject to a number of uncertainties, including (i) the current and potential impacts of the COVID-19 pandemic generally, on an industry-specific basis, and on the Partnership’s specific operations and business, (ii) the Partnership’s ability to refinance its senior unsecured notes due
The information in the Partnership’s website is not, and shall not be deemed to be, a part of this notice or incorporated in filings the Partnership makes with the
Additional information concerning the Partnership is available on the Partnership’s website at www.MMLP.com or by contacting:
Source: Martin Midstream Partners L.P.