SOURCE: Dynagas LNG Partners LP

December 05, 2013 16:05 ET

Dynagas LNG Partners LP Closes Option to Purchase Additional Units

ATHENS, GREECE--(Marketwired - Dec 5, 2013) - Dynagas LNG Partners LP (NASDAQ: DLNG) (the "Partnership") today announced that, in connection with its previously announced initial public offering of 12,500,000 common units at $18.00 per unit (the "IPO"), the underwriters have exercised in full the over-allotment option granted to them by Dynagas Holding Ltd. ("Dynagas Holding"), the Partnership's sponsor. Dynagas Holding has sold an additional 1,875,000 common units as a result of the over-allotment exercise on the same terms as the common units sold in the IPO. The Partnership will not receive any of the net proceeds from the sale of these additional common units. 

Following the closing of the sale of these additional common units, the Partnership has 14,985,000 common units outstanding, and Dynagas Holding owns 610,000 common units and all of the subordinated units of the Partnership (together representing a 52.0% limited partner interest in the Partnership).

A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission ("SEC"). The registration statement is available on the SEC's website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities issuable pursuant to the registration statement, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus. A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained from the offices of Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, 1B, New York, NY 10010, telephone: 1-800-221-1037 or email: newyork.prospectus@credit-suisse.com; BofA Merrill Lynch, Attention Prospectus Department, 222 Broadway, New York, NY 10038 or email dg.prospectus_requests@baml.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-888-603-5847 or email: barclaysprospectus@broadridge.com; or Deutsche Bank Securities, Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005, telephone (800) 503-4611 or email: prospectus.cpdg@db.com.

About Dynagas LNG Partners LP

Dynagas Partners was formed on May 30, 2013 by Dynagas Holding to own, operate and acquire liquefied natural gas (LNG) carriers initially employed on multi-year charters. The initial fleet of Dynagas Partners consists of three LNG carriers, each of which has a carrying capacity of approximately 150,000 cbm and is employed on a multi-year charter.

Forward-Looking Statement

This press release may contain "forward-looking statements." Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "may," "should" and similar expressions are forward-looking statements. These statements are not historical facts but instead represent only Dynagas Partners' belief regarding future results, many of which, by their nature are inherently uncertain and outside of Dynagas Partners' control. Actual results may differ, possibly materially, from those anticipated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect future results, see the discussion in our registration statement on Form F-1 (File No.333-191653) under the heading "Risk Factors."

Contact Information

  • Contact Information:

    Dynagas LNG Partners LP
    97 Poseidonos Avenue & 2 Foivis Street
    Glyfada, 16674
    Greece

    Attention: Michael Gregos
    Telephone: (011) 30 210 8917260
    Email: lngcoordination@dynagas.com

    Investor Relations / Financial Media:
    Nicolas Bornozis
    President
    Capital Link, Inc.
    230 Park Avenue, Suite 1536
    New York, NY 10169
    Tel. (212) 661-7566
    E-mail: dynagas@capitallink.com