GasLog Partners, the New York-listed spinoff of LNG shipper GasLog, agreed to sell 2,250,000 common units to funds managed by Tortoise Capital Advisors for $53.1 million.
The common units are being sold at a price of $23.60 per common unit through the partnership’s at-the-market common equity offering programme, GasLog partners said in a statement.
The partnership plans to use the net proceeds from the sale for general partnership purposes, which may include future acquisitions, debt repayment, capital expenditures and additions to working capital.
It is expected that the proceeds will also be used for future acquisitions from GasLog.