Business Context and Reporting Period
This Form 6-K filing by Dynagas LNG Partners LP covers the month of August 2020. The report details a corporate action taken on August 19, 2020, regarding the company's capital raising activities.
Key Financial Metrics
The filing does not provide specific financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on the authorization of a new securities offering program.
Material Changes
On August 19, 2020, the Partnership entered into an amended and restated sales agreement with Virtu Americas LLC and DNB Markets, Inc. as sales agents. This agreement establishes an "at-the-market" offering program under which the Partnership may offer and sell up to an aggregate of $30.0 million of its common units representing limited partnership interests.
Guidance, Outlook, and Risks
The filing incorporates the Sales Agreement and a legal opinion from Seward & Kissel LLP by reference into the Partnership's registration statement on Form F-3 (File No. 333-240014). No specific management commentary, forward-looking guidance, or discussion of risks and contingencies is included in the text of this specific Form 6-K report.
Investor Verification Points
- Verify the terms of the "at-the-market" offering program and the $30.0 million cap on common unit sales.
- Review the attached Sales Agreement (Exhibit 1.1) for commission structures and termination clauses.
- Confirm the status of the Form F-3 registration statement (File No. 333-240014) referenced in the filing.
- Check subsequent filings for actual sales volumes executed under this new program.