Kimbell intends to use the net proceeds from the offering, including any net proceeds from the exercise of the underwriters' option to purchase additional common units, to repay a portion of the outstanding borrowings under its revolving credit facility.
This offering comes on the heels of Kimbell’s earlier announcement that its federal income tax status change from that of a pass-through partnership to that of a taxable entity via a "check-the-box" election had become effective on September 24, 2018.
Baker Botts Lawyers/Office Involved:
Jason Rocha (Partner, Houston), Josh Davidson (Partner, Houston), Eileen Boyce (Senior Associate, Houston), Jennifer Gasser (Associate, Houston), and Steven Lackey (Associate, Houston).
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