Global Partners LP Enters Material Definitive Agreement

TL;DR

**Global Partners LP just signed a big new deal, details to follow, could move the stock.**

AI Summary

Global Partners LP filed an 8-K on January 4, 2024, reporting an "Entry into a Material Definitive Agreement" on January 3, 2024. This filing indicates a significant new agreement that could impact the company's operations or financial structure, potentially affecting holders of its Common Units, Series A Preferred Stock, and Series B Preferred Stock. Investors should pay close attention to the details of this agreement, as it could signal changes in future revenue, expenses, or strategic direction, thereby influencing the stock's valuation.

Why It Matters

This filing signals a new, important agreement for Global Partners LP, which could significantly alter its business operations or financial outlook. Investors need to understand the specifics of this agreement to assess its potential impact on the company's profitability and stock performance.

Risk Assessment

Risk Level: medium — The filing indicates a material agreement but lacks specific details, creating uncertainty about its financial implications and potential risks or benefits.

Analyst Insight

A smart investor would await further details on the "Material Definitive Agreement" to understand its nature, scope, and potential financial impact before making any investment decisions regarding Global Partners LP.

Key Players & Entities

• GLOBAL PARTNERS LP (company) — the registrant filing the 8-K
• Common Units representing limited partner interests (other) — a class of securities registered pursuant to Section 12(b) of the Act
• Series A Preferred Stock (other) — a class of securities registered pursuant to Section 12(b) of the Act
• Series B Preferred Stock (other) — a class of securities registered pursuant to Section 12(b) of the Act
• January 3, 2024 (date) — date of the earliest event reported
• January 4, 2024 (date) — date the 8-K was filed

FAQ

Key Financial Figures

• $450 million — ant to which the Issuers agreed to sell $450 million aggregate principal amount of the Issue

Filing Documents

• tm241853d1_8k.htm (8-K) — 35KB
• tm241853d1_ex10-1.htm (EX-10.1) — 387KB
• 0001104659-24-001446.txt ( ) — 712KB
• glp-20240103.xsd (EX-101.SCH) — 3KB
• glp-20240103_def.xml (EX-101.DEF) — 27KB
• glp-20240103_lab.xml (EX-101.LAB) — 37KB
• glp-20240103_pre.xml (EX-101.PRE) — 25KB
• tm241853d1_8k_htm.xml (XML) — 6KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On January 3, 2024, Global Partners LP, a Delaware limited partnership (the " Partnership "), and GLP Finance Corp., a Delaware corporation (" Finance " and, together with the Partnership, the " Issuers "), Global GP LLC, a Delaware limited liability company and the general partner of the Partnership (the " General Partner "), and certain subsidiaries of the Partnership, as guarantors (the " Guarantors "), entered into a Purchase Agreement (the " Purchase Agreement ") with J.P. Morgan Securities LLC, as representative of the several initial purchasers named therein (the " Initial Purchasers "), pursuant to which the Issuers agreed to sell $450 million aggregate principal amount of the Issuers' 8.250% senior notes due 2032 (the " Notes ") to the Initial Purchasers in a private placement exempt from the registration requirements under the Securities Act of 1933, as amended (the " Securities Act "). The Notes will be resold by the Initial Purchasers to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to persons outside the United States pursuant to Regulation S under the Securities Act. The Purchase Agreement contains customary representations and warranties of the parties and indemnification and contribution provisions under which the Issuers, the General Partner and the Guarantors, on one hand, and the Initial Purchasers, on the other, agreed to indemnify each other against certain liabilities, including liabilities under the Securities Act. A copy of the Purchase Agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated into this Item 1.01 by reference. The description of the Purchase Agreement contained herein is qualified in its entirety by the full text of such exhibit. Closing of the offering is expected to occur on or about January 18, 2024, subject to customary closing conditions. The Partnership intends to use the net proceeds from the o

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits 10.1 Purchase Agreement, dated January 3, 2024, among the Issuers, the General Partner, the Guarantors and the Initial Purchasers. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. GLOBAL PARTNERS LP By: Global GP LLC its general partner Dated: January 4, 2024 By: /s/ Sean T. Geary Sean T. Geary Chief Legal Officer and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR