Genesis Energy says offering of 6M units priced
HOUSTON -- Shares of Genesis Energy LP fell after the oil and gas pipeline and refining company said an offering of 6 million units from its shareholders priced at a 7 percent discount to Monday's closing price.
Units closed at $34.56 Monday and were priced at $32.15.
The Houston company won't receive proceeds from the sale, as only unitholders are selling.
Shares fell $1.25, or 3.6 percent, to $33.31 in afternoon trading Tuesday.