Genesis Energy, L.P. announced the commencement of a registered underwritten public offering of 9,000,000 common units representing limited partner interests.

With a share price of $43.77, net proceeds will be ~$393.93 million.

We expect to grant the underwriters a 30-day option to purchase up to 1,350,000 additional common units from us. We intend to use the net proceeds from the offering, including any net proceeds from the underwriters’ exercise of their option to purchase additional common units, to fund a portion of the purchase price for our recently announced pending acquisition of the offshore pipeline and services business of Enterprise Products Operating LLC and its affiliates. We intend to use any remaining net proceeds for general partnership purposes, including funding acquisitions (including organic growth projects) or repaying a portion of the borrowings outstanding under our revolving credit facility. If the acquisition does not close, we intend to use all of the net proceeds, including any net proceeds from the underwriters’ exercise of their option to purchase additional common units, 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, Barclays, Credit Suisse, UBS Investment Bank, Raymond James, RBC Capital Markets, and BMO Capital Markets are acting as joint book-running managers for the offering and Baird, Oppenheimer & Co. and Janney Montgomery Scott are acting as co-managers.