EXHIBIT 99.1
Martin Midstream Partners Announces Closing of Offering of Common Units
KILGORE, Texas, May 18, 2007 /PRNewswire-FirstCall via COMTEX/
Martin Midstream Partners L.P. (NASDAQ: MMLP) announced today the completion of its previously
announced public offering of 1,200,000 common units, at the purchase price of $42.25 per unit,
before underwriting discounts of $1.527 per unit. Pursuant to the
Underwriting Agreement, dated May 15, 2007, by and among MMLP, A.G. Edwards & Sons, Inc. and the other parties
thereto, MMLP granted the underwriter
an over-allotment option to purchase an additional 180,000 common
units, which option has not yet been
exercised. Any exercise of this over-allotment option must occur
prior to June 15, 2007. After
giving effect to the issuance and sale of all 1,200,000 common units in connection with the
offering, MMLP generated net proceeds of approximately $49.8 million, which will be utilized by
MMLP to repay a portion of the outstanding indebtedness incurred under its revolving loan facility
to fund both $50.0 million in recent acquisitions and $72.3 million in recent expansion capital
expenditures. This net proceeds amount includes a capital contribution from MMLPs general partner
of approximately $1.0 million to maintain its 2% general partner interest in MMLP. A.G. Edwards &
Sons, Inc. served as the sole underwriter for the offering.
The units sold in the Offering were registered under the Securities Act of 1933 pursuant to
the Partnerships Registration Statement on Form S-3 (File No. 333-117023), which was declared
effective by the Securities and Exchange Commission on July 19, 2004. A prospectus supplement
relating to the offering has been filed with the SEC, and is available along with the base
prospectus filed with the SEC in connection with the shelf registration, on the SECs website at
http://www.sec.gov. Printed copies of the prospectus supplement and base prospectus relating to
the offering may be obtained from A.G. Edwards & Sons, Inc., One North Jefferson, St. Louis,
Missouri 63103, Telephone 800-278-5373.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy
the securities described herein, nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction. The offering is being made
only by means of a prospectus and related prospectus supplement.
About Martin Midstream Partners
Martin Midstream Partners is a publicly traded limited partnership with a diverse set of
operations focused primarily in the United States Gulf Coast region. The Companys primary business
lines include: terminalling and storage services for petroleum products and by-products; natural
gas services; marine transportation services for petroleum products and by-products; sulfur
gathering, processing and distribution; and fertilizer manufacturing and distribution.
Additional information concerning Martin Midstream is available on its website at
www.martinmidstream.com.
Forward-Looking Statements
Statements about Martin Midstream Partners outlook and all other statements in this release
other than historical facts are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements and all references to
financial estimates rely on a number of assumptions concerning future events and are subject to a
number of uncertainties and other factors, many of which are outside its control, which could cause
actual results to differ materially from such statements. While MMLP believes that the assumptions
concerning future events are reasonable, it cautions that there are inherent difficulties in
anticipating or predicting certain important factors. A discussion of these factors, including
risks and uncertainties, is set forth in MMLPs annual and quarterly reports filed from time to
time with the Securities and Exchange Commission. Martin Midstream Partners disclaims any intention
or obligation to revise any forward-looking statements, including financial estimates, whether as a
result of new information, future events, or otherwise.
Contact: Robert D. Bondurant, Executive Vice President and Chief Financial Officer of MMLPs
general partner, Martin Midstream GP LLC, at (903) 983-6200.