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Blueknight Energy Partners offering 3,000,000 common units

BlueknightEnergy Partners LP commenced an underwritten public offering of3,000,000 common units intended to finance some of a repurchase of preferredunits.

The underwriters will be granted a 30-day option to purchaseup to 450,000 additional common units, according to a July 20 news release.

The net proceeds from the offering, including from exerciseof the overallotment option, is anticipated to partially fund the repurchase of13,335,390 series A preferred units from Blueknight Energy Holdings Inc. andCB-Blueknight LLC.

If the repurchase does not close, the partnership plans touse the net proceeds from the common unit offering for general partnershippurposes, including repayment of borrowings outstanding under its creditfacility.

Wells Fargo Securities will act as the sole underwriter forthe offering.