secwatch.observer — SEC 8-K summary
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Issuer:     USD Partners LP (USDP)
CIK:        0001610682
Form:       8-K
Filed at:   2022-04-08T23:59:59+00:00
Accession:  0001193125-22-099508
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 3.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

USD Partners completes acquisition of Hardisty South Terminal for $75M cash + 5.75M units; eliminates IDRs
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- Acquired Hardisty South Terminal from USD Group for $75M cash and ~5.75M common units.
- Eliminated sponsor's incentive distribution rights and converted GP's 1.6% economic interest to non-economic.
- After closing, USD Group owns 51.9% of USDP (17.3M common units outstanding).
- Combined Hardisty Terminal capacity now 262,500 barrels per day (3.5 unit trains).
- Cash portion funded via borrowings under $275M senior secured credit facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1610682/000119312522099508/0001193125-22-099508-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1610682/000119312522099508/d345498d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-099508

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