×

Green Plains Partners LP Announces Closing of Initial Public Offering

OMAHA, Neb., July 1, 2015 (GLOBE NEWSWIRE) -- Green Plains Partners LP ("Green Plains Partners") (NASDAQ:GPP) today announced the closing of its initial public offering of 11,500,000 common units representing limited partner interests at $15.00 per common unit. The number of common units issued at closing included 1,500,000 common units that were issued pursuant to the full exercise of the underwriters' option to purchase additional common units. The common units began trading on the NASDAQ Global Market on June 26, 2015 under the ticker symbol "GPP". Net proceeds from the offering, after deducting underwriting discounts, structuring fees and estimated offering expenses, were approximately $157.9 million.

Following the closing of the offering, the public owns common units representing a 35.5% limited partner interest in Green Plains Partners. Green Plains Inc. (the "Parent") (NASDAQ:GPRE), together with certain of its wholly-owned subsidiaries, owns the remaining outstanding common units and subordinated units, collectively representing a 62.5% limited partner interest in Green Plains Partners, as well as Green Plains Partners' 2.0% general partner interest and Incentive Distribution Rights.

Green Plains Partners intends to use the net proceeds from the offering to pay a distribution to the Parent, to pay origination fees under a new revolving credit facility, and for general partnership purposes.

Barclays, BofA Merrill Lynch, Credit Suisse, Macquarie Capital and RBC Capital Markets acted as joint book-running managers for the offering, and Baird, Raymond James, Stephens Inc. and Stifel acted as co-managers for the offering. Rothschild acted as financial advisor in connection with the offering and XMS Capital Partners along with Barclays acted as structural advisors.

The offering of these securities was made only by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. A final copy of the prospectus may be obtained from:

Barclays
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
1-888-603-5847
Barclaysprospectus@broadridge.com
BofA Merrill Lynch
222 Broadway
New York, NY 10038
Attn: Prospectus Department
email: dg.prospectus_requests@baml.com

Credit Suisse
Attention: Prospectus Department
Eleven Madison Avenue, Level 1B
New York, NY 10010
Telephone: 1-800-221-1037

Macquarie Capital
Attention: Prospectus Department
125 West 55th Street, 22nd Floor
New York, NY 10019
(888) 268-3937
us.prospectus@macquarie.com
RBC Capital Markets
200 Vesey Street, 8th Floor
New York, New York 10281
Attention: Equity Syndicate Department
1 877 822 4089
equityprospectus@rbccm.com




You may also obtain a copy of the final prospectus for free by visiting the U.S. Securities and Exchange Commission's (the "SEC") website at http://www.sec.gov.

A registration statement relating to these securities has been filed with and declared effective by the SEC. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

About Green Plains Partners LP

Green Plains Partners LP is a fee-based Delaware limited partnership recently formed by its parent, Green Plains Inc., to provide ethanol and fuel storage, terminal and transportation services by owning, operating, developing and acquiring ethanol and fuel storage tanks, terminals, transportation assets and other related assets and businesses.

Forward-Looking Statements

This press release may include forward-looking statements within the meaning of the federal securities laws. Statements that do not relate strictly to historical or current facts are forward-looking. These statements contain words such as "possible," "if," "will" and "expect" and involve risks and uncertainties including, among others, that Green Plains Partners' business plans may change as circumstances warrant, because of general market conditions or other factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Green Plains Partners' prospectus and SEC filings. Green Plains Partners undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

CONTACT: Jim Stark, Vice President - Investor and Media Relations Green Plains Partners LP (402) 884-8700

Source:Green Plains Partners LP