UPDATE: TETRA Technologies and Compressco Partners Announce Initial Public Offering of 2.5M Common Units

TETRA Technologies TTI and Compressco Partners GSJK announced today that Compressco Partners has commenced, subject to market conditions, an underwritten initial public offering of approximately 2,500,000 of its common units representing limited partner interests. Compressco Partners also intends to grant the underwriters a 30-day option to purchase up to approximately 375,000 additional common units. Compressco Partners intends to use the net proceeds, as well as the net proceeds from any exercise of the underwriters' over-allotment option, to retire existing indebtedness, pay financing fees and transaction costs incurred in connection with the placement of a new revolving credit facility and for general working capital purposes.