KNOT Offshore Partners, LP (ticker KNOP) is currently out on its IPO roadshow and looking to raise $149 million by selling 7.45 million common units at a mid-point price of $20 with an indicated mid-point yield of 7.50%. They expect to price the deal next Tuesday April 9th but I would not be surprised to see it get priced early, so they might get the deal done and priced by this Thursday night.
IMPORTANT: KNOP has elected to be taxed as a C-Corp. so it will provide investors with a 1099-DIV instead of a K-1, which makes KNOP acceptable for Tax Deferred Accounts like your IRA.
- Here is the full roadshow presentation: KNOP IPO Roadshow April 2013
- Here is a link to the roadshow video (it will be removed on the night the IPO prices): KNOP IPO Roadshow Video
- Here is a link to their SEC filings: KNOT Offshore Partners LP SEC Filings
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What are your thoughts on this IPO?