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Issuances of Beneficial Unit Certificates
12 Months Ended
Dec. 31, 2024
Issuances Of Beneficial Unit Certificates [Abstract]  
Issuances of Beneficial Unit Certificates

18. Issuances of Beneficial Unit Certificates

In December 2022, the Partnership’s Shelf Registration Statement was declared effective by the SEC under which the Partnership may offer up to $300.0 million of additional BUCs, Preferred Units or debt securities for sale from time to time. The Shelf Registration Statement will expire in December 2025.

In March 2024, the Partnership entered into a Sales Agreement with JonesTrading Institutional Services LLC and BTIG, LLC, as Agents, to offer and sell, from time to time at market prices on the date of sale, BUCs up to an aggregate offering price of $50.0 million via an “at the market offering.” As of December 31, 2024, the Partnership has sold 92,802 BUCs for gross proceeds of $1.5 million under the Sales Agreement.

In April 2024, the Partnership commenced a registered offering of up to $25.0 million of BUCs which are being offered and sold pursuant to the effective Shelf Registration Statement and a prospectus supplement filed with the SEC relating to this offering. As of the date of this filing, the Partnership has not issued any BUCs in connection with this offering.