K-Sea Transportation Completes $100M Investment Deal With KA First Reserve

K-Sea Transportation Partners LP completed its agreement with KA First Reserve LLC. K-Sea Transportation sold 2.8 million more convertible preferred units for $15 million. The transactions raised $100 million in exchange for a total of 18.4 million convertible preferred units. KA First Reserve is a partnership between First Reserve and Kayne Anderson Capital Advisors that previously agreed to invest $100 million in K-Sea Transportation Partners L.P. in exchange for the 18.4 million units.

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