New Issue: Genesis wraps $25 million private placement of common units

By Devika Patel

Knoxville, Tenn., June 5 - Genesis Energy LP took in $25 million in a private placement of common units on June 4, according to an 8-K filed Thursday with the Securities and Exchange Commission.

Genesis sold 1,199,041 common units at $20.85 per unit to Denbury Onshore, LLC.

Proceeds were used for a portion of the acquisition of Denbury's Free State Pipeline in Mississippi, which was purchased for $75 million.

Genesis is a Houston-based gatherer, marketer and transporter of crude oil and a wholesale marketer of carbon dioxide.

Issuer:	Genesis Energy LP
Issue:	Common units
Amount:	$25,000,004.85
Units:	1,199,041
Price:	$20.85
Warrants:	No
Investor:	Denbury Onshore, LLC
Settlement date:	June 4
Stock symbol:	Amex: GEL
Stock price:	$21.13 at close June 4

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