CAPITAL
PRODUCT PARTNERS L.P. ANNOUNCES PARTIAL EXERCISE OF UNDERWRITERS’ OVER-ALLOTMENT
OPTION
Athens,
Greece, March 16, 2010 – Capital Product Partners L.P. (the Partnership) (Nasdaq: CPLP)
announced today that the underwriters of its public offering of 5,800,000 common
units, which was completed on February 26, 2010, have partially exercised the
over-allotment option granted to them by the Partnership. As a result of the
over-allotment exercise, the Partnership will sell 481,578 common units and will
receive approximately $4 million in net proceeds, which will be used for general
partnership purposes.
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.
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. Electronic
copies of the prospectus supplement and accompanying base prospectus related to
this offering are available on the Securities and Exchange Commission’s website
at http://www.sec.gov.
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 19 modern vessels, comprising 16 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, 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 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