Global Partners LP Signals Potential Corporate Actions via 8-K Filing

TL;DR

**Global Partners LP is prepping for big corporate moves, watch for follow-up announcements!**

AI Summary

Global Partners LP filed an 8-K on January 16, 2024, primarily to disclose that it may use written communications under Rule 425 of the Securities Act, soliciting material under Rule 14a-12, and pre-commencement communications under Rules 14d-2(b) and 13e-4(c). This filing indicates the company is preparing for potential future corporate actions, such as mergers, acquisitions, or tender offers, which could significantly impact the value of its Common Units and Series B Preferred Units. Investors should monitor for subsequent filings that detail these potential actions, as they could lead to substantial changes in stock price or ownership structure.

Why It Matters

This filing signals that Global Partners LP is laying the groundwork for significant corporate events, which could include M&A or tender offers, directly impacting shareholder value and the company's future direction.

Risk Assessment

Risk Level: medium — The filing itself is administrative, but it signals potential future corporate actions that carry inherent risks and opportunities for investors.

Analyst Insight

A smart investor would closely monitor Global Partners LP's subsequent SEC filings for specific details on any corporate actions, as this 8-K is a preparatory signal rather than a definitive announcement. Consider the potential impact on both Common Units and Series B Preferred Units.

Key Numbers

• 2024-01-16 — Date of Report (The date the earliest event reported in the 8-K occurred.)
• 001-32593 — Commission File Number (The SEC file number for Global Partners LP.)
• 74-3140887 — IRS Employer Identification No. (The tax identification number for Global Partners LP.)

Key Players & Entities

• GLOBAL PARTNERS LP (company) — the registrant filing the 8-K
• Delaware (company) — state of incorporation for Global Partners LP
• 001-32593 (dollar_amount) — Commission File Number
• 74-3140887 (dollar_amount) — IRS Employer Identification No.
• P.O. Box 9161 800 South Street Waltham, Massachusetts 02454-9161 (company) — Address of Principal Executive Offices
• (781) 894-8800 (dollar_amount) — Registrant’s telephone number
• January 16, 2024 (date) — Date of earliest event reported

Forward-Looking Statements

• Global Partners LP will announce a significant corporate transaction (e.g., acquisition, merger, or tender offer) within the next 6-12 months. (GLOBAL PARTNERS LP) — medium confidence, target: 2025-01-16
• The company's stock price will experience increased volatility as the market anticipates potential corporate actions. (Common Units) — high confidence, target: 2024-07-16

FAQ

Key Financial Figures

• $0.77596 — clared a quarterly cash distribution of $0.77596 per unit ($3.10 per unit on an annualiz
• $3.10 — cash distribution of $0.77596 per unit ($3.10 per unit on an annualized basis) on the
• $0.59375 — clared a quarterly cash distribution of $0.59375 per unit ($2.375 per unit on an annuali
• $2.375 — cash distribution of $0.59375 per unit ($2.375 per unit on an annualized basis) on the

Filing Documents

• a53881555.htm (8-K) — 32KB
• a53881555ex99_1.htm (EX-99.1) — 7KB
• 0001157523-24-000061.txt ( ) — 225KB
• glp-20240116.xsd (EX-101.SCH) — 4KB
• glp-20240116_def.xml (EX-101.DEF) — 18KB
• glp-20240116_lab.xml (EX-101.LAB) — 28KB
• glp-20240116_pre.xml (EX-101.PRE) — 20KB
• a53881555_htm.xml (XML) — 8KB

01

Item 7.01. Regulation FD Disclosure On January 16, 2024, Global Partners LP (the "Partnership") issued a press release announcing that the Board of Directors (the "Board") of its general partner, Global GP LLC, declared a quarterly cash distribution of $0.77596 per unit ($3.10 per unit on an annualized basis) on the Partnership's fixed-to-floating rate Series A preferred units for the period from November 15, 2023 through February 14, 2024. The applicable distribution rate on the Series A preferred units, as calculated by the Partnership's calculation agent, is approximately 12.42%, based on a determination date of November 13, 2023. On February 15, 2024, the Partnership will pay such cash distribution to its Series A preferred unitholders of record as of the opening of business on February 1, 2024. The Board also declared a quarterly cash distribution of $0.59375 per unit ($2.375 per unit on an annualized basis) on the Partnership's 9.50% fixed-rate Series B preferred units for the period from November 15, 2023 through February 14, 2024. On February 15, 2024 , the Partnership will pay such cash distribution to its Series B preferred unitholders of record as of the opening of business on February 1, 2024 . A copy of the Partnership's press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. In accordance with General Instruction B.2 of Form 8-K, the information set forth in this Item 7.01 and in Exhibit 99.1 shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, unless the Partnership specifically states that the information is to be considered "filed" under the Exchange Act or incorporates it by reference into a filing under the Exchange Act or the Securities Act of 1933, as amended.

Financial Statements and Exhibits

Financial Statements and Exhibits (d) Exhibit 99.1 Global Partners LP Press Release dated January 16, 2024 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 16, 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