Energy Transfer (ET) has issued an update.
Energy Transfer LP announced the pricing of a secondary public offering of common units by certain common unitholders, with an underwriting agreement involving 38,755,996 units at $15.78 each. The offering, expected to close around August 12, 2024, will see no proceeds going to the Partnership but includes a commitment from affiliated officers and directors to purchase 3,040,000 units. The agreement prevents the Partnership and selling unitholders from selling additional units for 30 days without the underwriter’s consent and contains customary closing conditions, indemnities, and service provisions.
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