Caspian Capital, LP and Nut Tree Capital Management, LP entered into a letter of intent to acquire Martin Midstream Partners L.P. for approximately $180 million.

Caspian Capital, LP and Nut Tree Capital Management, LP entered into a letter of intent to acquire Martin Midstream Partners L.P. (NasdaqGS:MMLP) for approximately $180 million on June 21, 2024. The transaction is not subject to any financing condition and would be financed through capital on hand. On July 29, 2024, Nut Tree Capital Management and Caspian Capital increased the Offer to Purchase Martin Midstream Partners L.P. to $4.50 per Common Unit in Cash.

Latham & Watkins LLP and Olshan Frome Wolosky LLP are serving as legal counsel to Nut Tree and Caspian.