Plains All American Pipeline LP, which moves and stores crude oil and petroleum products, said Tuesday it completed the sale of about 6.3 million common units for net proceeds of $382.5 million.
Net proceeds of the sale to institutional and private investors, included the general partner's capital contribution and expenses.
The sale took place under a purchase agreement dated June 20.
The company now has about 116 million common units outstanding.
Plains All American shares rose 10 cents to $63.86.
Questions or comments about this story should be directed to Kristen A. Lee at 212-621-7190.
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