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Genesis Energy, L.P. announced the commencement of a registered underwritten public offering of 4,000,000 common units representing limited partner interests. The underwriters are expected to be granted a 30-day option to purchase up to 600,000 additional common units from us. We expect to use the net proceeds from the offering for general partnership purposes, including funding acquisitions (including organic growth projects) or repaying a portion of the borrowings outstanding under our revolving credit facility.
Wells Fargo Securities, BofA Merrill Lynch, Citigroup, Deutsche Bank Securities, RBC Capital Markets and BMO Capital Markets are acting as joint book-running managers for the common units offering. Baird, Raymond James and Janney Montgomery Scott are acting as co-managers.