CAPITAL
PRODUCT PARTNERS L.P. ANNOUNCES PRICING OF 5,800,000 COMMON UNITS
Athens,
Greece, February 23, 2010 – Capital Product Partners L.P. (the Partnership) (Nasdaq: CPLP)
announced today that it has priced its public offering of 5,800,000 common units representing
limited partnership interests at a public offering price of $8.85 per
common unit. The Partnership has granted the underwriters a 30-day option
to purchase an additional 870,000 common units to cover
over-allotments, if any. The Partnership expects to use the net proceeds from
the public offering to acquire the M/T Atrotos (renamed M/T El Pipila) a
medium range product tanker vessel, from its sponsor Capital Maritime &
Trading Corp. (Capital
Maritime) for $43 million and for general partnership purposes. The
offering is expected to close on February 26, 2010.
The
Partnership’s common units trade on the Nasdaq Global Market under the symbol
“CPLP”.
The joint
book-running managers for this offering are UBS Investment Bank and Citi. The
senior manager is Barclays Capital and the co-managers are Oppenheimer
& Co. and Stifel Nicolaus.
When
available, copies of the prospectus supplement and accompanying base prospectus
related to this offering may be obtained from UBS
Investment Bank, Attention: Prospectus Department, 299 Park Avenue, New York, NY
10171, or by calling UBS toll-free at: 888-827-7275 or from Citi, Brooklyn Army
Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, or by calling Citi
toll-free at: 800-831-9146.
This news
release does not constitute an offer to sell or a solicitation of an offer to
buy the securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. This offering may be made only by
means of a prospectus supplement and accompanying base prospectus.
About
Capital Product Partners L.P.
Capital
Product Partners L.P. (Nasdaq: CPLP), a Marshall Islands master limited
partnership, is an international owner of modern double-hull tankers. Capital
Product Partners L.P. owns 18 modern vessels, comprising 15 MR tankers, two
small product tankers and one Suezmax crude oil tanker. Our vessels are under
medium to long-term charters to BP Shipping Limited, Morgan Stanley Capital
Group Inc., Overseas Shipholding Group and Shell International Trading &
Shipping Company Ltd. and Capital Maritime & Trading Corp.
Forward
Looking Statement:
The
statements in this press release that are not historical facts, including the
expected acquisition of the M/T Atrotos, may be forward-looking statements (as
such term is defined in Section 21E of the Securities Exchange Act of 1934, as
amended). These forward-looking statements involve risks and uncertainties that
could cause the stated or forecasted results to be materially different from
those anticipated. Unless required by law, we expressly disclaim any obligation
to update or revise any of these forward-looking statements, whether because of
future events, new information, a change in our views or expectations, to
conform them to actual results or otherwise. We assume no responsibility for the
accuracy and completeness of the forward-looking statements. We make no
prediction or statement about the performance of our common units.
CPLP-F
CONTACT: Capital
GP L.L.C.
Ioannis
Lazaridis, CEO and CFO
+30 (210)
4584 950
i.lazaridis@capitalpplp.com
Capital
Maritime & Trading Corp.
Jerry
Kalogiratos
+30 (210)
4584 950
j.kalogiratos@capitalpplp.com