Nut Tree, Caspian Capital oppose merge of Martin Midstream, Martin Resources

Nut Tree Capital Managemen and Caspian Capital, which together with their affiliates have combined exposure in Martin Midstream Partners (MMLP) of approximately 13.6% of the outstanding common units, have filed definitive proxy materials with the Securities and Exchange Commission, SEC, opposing the sale of MMLP to Martin Midstream Resource Corporation for $4.02 per common unit to be voted on during the Company’s upcoming meeting. In connection with the filing of the definitive proxy materials, Nut Tree and Caspian have mailed a letter to MMLP’s common unitholders urging them to vote “AGAINST” the Merger at the Special Meeting. As discussed in the definitive proxy materials and the letter, Nut Tree and Caspian oppose the Merger and believe that: MMLP’s common units are worth far more than the $4.02 per unit price offered in the Merger; The Company relied on a deeply flawed financial analysis used to justify the Merger that ignored the future prospects for MMLP, which stand to create additional value for unitholders; and The massive conflicts of interest in the Merger and its negotiation process demand the highest degree of scrutiny and skepticism from MMLP unitholders.