USD Partners LP (USDP): M&A transaction — USD Partners LP completes sale of Casper rail terminal for ~$33M cash

USD Partners LP

Sale closed March 31, 2023 to South 49 Holdings Ltd. for ~$33 million, subject to adjustments.
Proceeds used to repay $19.5 million under revolving credit facility with Bank of Montreal.
Piper Sandler & Co. served as exclusive financial advisor; Gibson Dunn as legal advisor.
Pro forma removes $22.9M PP&E and $3.5M intangibles; FY2022 net income swings from loss of $61.3M to $26.2M.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

USD Partners LP completed a disposition involving South 49 Holdings Ltd. for approximately $33 million (closed 2023-03-31).

Action: disposition
Counterparty: South 49 Holdings Ltd.
Consideration: approximately $33 million
Closing: 2023-03-31

Exact text from the filing

to that certain Membership Interest Purchase Agreement, dated March 20, 2023, by and between Seller and Buyer (the “Purchase Agreement”), for cash consideration of approximately $33 million, subject to customary adjustments. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 April 3, 2023 USD Partners LP Announces Closing of Casper Terminal Sale Houston, TX – A

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Source: SEC EDGAR

accession 0001193125-23-090990

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