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Thursday, May 19, 2022

Is This Why The Martin Midstream (MMLP) Stock Rose 10.63% In Current Trading?

Martin Midstream Partners L.P. (MMLP) has advanced 10.63% at $5.41 in the current market on the last check Wednesday after sharing its plan of releasing quarterly results. The stock of MMLP completed the previous trading session at $4.89.

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When will MMLP be delivering its financials?

Martin Midstream (MMLP) plans to deliver its monetary outcomes for the main quarter finished March 31, 2022, after the market closes on April 20, 2022. An investor call to audit the main quarter results will be held the next day on Thursday, April 21, 2022, at 8:00 a.m. CT.

MMLP’s money delicate proposition

MMLP last month initiated a money delicate proposition (the “Overabundance Cash Flow Offer”) to buy up to $9,305,000 total chief sum (the “Abundance Cash Flow Offer Amount”) of its remarkable 11.50% Senior Secured Second Lien Notes due 2025 (the “Notes”).

  • MMLP was to buy those Notes at a price tag of 100 percent of the total chief sum thereof, in addition to gathered and neglected revenue, however excluding the buy date.
  • The Excess Cash Flow Offer is being made as per necessities set out in the agreement overseeing the Notes (the “Arrangement”).
  • MMLP has Excess Cash Flow (as characterized in the Indenture) for any year time frame finishing on December 31 of any financial year (any such period, an “ECF Period”).
  • As of the finish of such ECF Period, Martin Midstream’s Total Leverage Ratio (as characterized in the Indenture) is more noteworthy than 3.75 to 1.00, MMLP will make a proposal to all enrolled holders of Notes to buy the most extreme chief measure of Notes that might be bought with 25% of such Excess Cash Flow for such ECF Period.

How MMLP will finish up the deal?

MMLP had Excess Cash Flow and an influence proportion more noteworthy than 3.75 to 1.00 for the ECF Period finishing December 31, 2021. The Excess Cash Flow Offer by Martin Midstream (MMLP) was at first to lapse today at 5:00 p.m., except if expanded or the Excess Cash Flow Offer is prior ended by the Partnership, in its only prudence such time and date as the equivalent might be broadened or before ended.

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