Martin Midstream begins public offering

Kilgore, Texas-Martin Midstream Partners L.P. said Aug. 11 that it has commenced an underwritten public offering of 1,000,000 common units (plus up to an additional 150,000 common units to cover over-allotments, if any) under its existing shelf registration statement. It intends to use the net proceeds from the offering to redeem from subsidiaries of Martin Resource Management Corp., which owns the partnership’s general partner, an aggregate number of partnership common units equal to the number of common units issued in the offering. The partnership’s number of common units outstanding will remain unchanged. RBC Capital Markets is the underwriter for the offering.