GasLog Partners, the New York-listed spinoff of LNG shipper GasLog, said Monday that it plans to sell 3.75 million shares in a bid to raise cash.
The company intends to grant the underwriter a 30-day option to purchase up to 562,500 additional common units.
In a related statement on Tuesday, GasLog Partners announced it priced the offering at $20.50 per common unit.
GasLog Partners plans to use the net proceeds from the public offering for general partnership purposes, which may include future acquisitions, debt repayment, capital expenditures and additions to working capital.
The company said it currently expects that this would include future acquisitions from its parent company, GasLog .
Citigroup is acting as sole bookrunner for the offering.
(Article updated on 24.01. to include the price per common unit)