On Wednesday, August 14th, World Point Terminals, LP completed its initial public offering of 8,750,000 common units representing limited partner interests at the public offering price of $20.00 per common unit. World Point sold 3,871,750 common units and a subsidiary of the sponsor sold 4,878,250 common units in the offering. World Point also granted the underwriters a 30-day option to purchase up to 1,312,500 additional common units. After a six-day road show, the offering priced on August 8th, and the common units began trading on the New York Stock Exchange under the symbol “WPT” on Friday, August 9th.

The offering generated approximately $70 million of net proceeds for World Point, which it intends to use to pay transaction expenses related to its new credit facility, make a cash distribution to the selling unitholder, repay indebtedness and existing payables and fund working capital requirements. The offering also generated approximately $91 million of net proceeds for the selling unitholder.

World Point owns, operates, develops and acquires terminals and other assets relating to the storage of light refined products, heavy refined products and crude oil. World Point’s storage terminals are strategically located in the East Coast, Gulf Coast and Midwest regions of the United States. World Point is headquartered in St. Louis, Missouri.

Baker Botts represented the underwriters in the offering.

www.bakerbotts.com