Martin Midstream Partners L.P. Announces Extension of Early Participation Date, Rights Offering Funding Date, Expiration Time and Settlement Date of Exchange Offer, Cash Tender Offer and Consent Solicitations for Certain Outstanding Notes

KILGORE, Texas, July 16, 2020 (GLOBE NEWSWIRE) -- Martin Midstream Partners L.P. (Nasdaq: MMLP) (the “Partnership”) today announced that it and its subsidiary, Martin Midstream Finance Corp. (“FinanceCo” and, together with the Partnership, the “Issuers”), have extended (1) the early participation date with respect to its previously announced exchange offer (the “Exchange Offer”) and cash tender offer (the “Cash Tender Offer”) to exchange or purchase, as applicable, the Issuers’ outstanding 7.25% senior unsecured notes due 2021 (the “Existing Notes”) from 5:00 p.m., New York City time, on July 22, 2020, to 5:00 p.m., New York City time, on July 23, 2020 (the “Early Participation Date”), (2) the rights offering funding date with respect to the previously announced rights offering (the “Rights Offering”) for certain holders of Existing Notes that participate in the Exchange Offer to acquire the Issuers’ 10.00% senior secured 1.5 lien notes due 2024 (the “New Notes”) from 5:00 p.m., New York City time, on July 28, 2020, to 5:00 p.m., New York City time, on July 29, 2020 (the “Rights Offering Funding Date”), (3) the expiration time with respect to the Exchange Offer and Cash Tender Offer, as applicable, from 5:00 p.m., New York City time, on August 6, 2020, to 5:00 p.m., New York City time, on August 7, 2020 (the “Expiration Time”) and (4) the expected settlement date with respect to the Exchange Offer and Cash Tender Offer, as applicable, from August 11, 2020, to August 12, 2020 (the “Settlement Date”), in each case, unless extended or earlier terminated by the Issuers.

These dates are being extended to provide time for administrative compliance with the steps necessary to respond to the Exchange Offer and Cash Tender Offer.

The Exchange Offer, Cash Tender Offer and related consent solicitations (collectively, the “Offers”) are being made pursuant to the Issuers’ Exchange Offer Memorandum, Consent Solicitation, Rights Offering, and Disclosure Statement Soliciting Acceptances of a Prepackaged Plan of Reorganization (the “Offering Memorandum”) and Offer to Purchase and Consent Solicitation Statement (the “Offer to Purchase”), each dated July 9, 2020, which set forth a more detailed description of the terms of the Offers. Terms used but not defined herein have the meaning ascribed to them in the Offering Memorandum or Offer to Purchase, as applicable.