Presentation Details Why MRMC's Proposed
Merger Significantly Undervalues MMLP, the Deeply Flawed Valuation
Methodologies and Financial Analysis Used to Justify the Inadequate
Merger Consideration, and the Major Conflicts of Interest that
Threaten to Enrich Company Insiders at Expense of
Unitholders
Remaining as a Publicly Traded MLP Provides a
Path to Superior Value for MMLP Unitholders
We Believe Unitholders Stand to Benefit from
Imminent and Significant Future Distributions if MMLP Remains
Independent
Nut Tree and Caspian Urge Unitholders to Vote
"AGAINST" MMLP's Merger with MRMC
View the Presentation at
www.ProtectMMLPValue.com
NEW
YORK, Dec. 10, 2024 /PRNewswire/ -- Nut
Tree Capital Management L.P. ("Nut Tree") and Caspian Capital L.P.
("Caspian"), which together with
their affiliates have combined exposure in Martin Midstream
Partners L.P. (NASDAQ: MMLP) ("MMLP" or the "Company") of
approximately 13.6% of the outstanding common units, today released
an investor presentation highlighting reasons why unitholders
should vote "AGAINST" the deeply flawed merger of MMLP with Martin
Resource Management Corporation ("MRMC").
The presentation contains a detailed explanation regarding how
MRMC's $4.02 per common unit price
significantly undervalues the Company, the major conflicts
pervading the insider-led deal and leading to a flawed process, and
MMLP's bright future prospects in remaining as a publicly traded
MLP.
Nut Tree and Caspian encourage
all MMLP unitholders to review the presentation which can be viewed
here and is also available at www.ProtectMMLPValue.com.
Advisors
Olshan Frome Wolosky LLP and Latham &
Watkins LLP are serving as legal counsel to Nut Tree
and Caspian.
About Caspian Capital LP
Caspian Capital LP's absolute
return strategy was founded in 1997 and is focused on performing,
stressed, distressed corporate credit, and value
equities. Caspian currently oversees $4.6
billion in assets under management.
About Nut Tree Capital Management LP
Nut Tree Capital,
founded in 2015, implements a fundamentals-based strategy focused
on distressed credit, stressed/event-driven credit and value
equities. Nut Tree currently oversees $4 billion in
assets.
Contacts
For Investors:
John Ferguson/Joe Mills
Saratoga Proxy Consulting LLC
(212) 257-1311/ (888) 368-0379
info@saratogaproxy.com
For Media:
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co.
(212) 257-4170
View original
content:https://www.prnewswire.com/news-releases/nut-tree-capital-management-and-caspian-capital-release-presentation-highlighting-why-martin-midstream-partners-lp-unitholders-should-vote-against-value-destructive-merger-with-martin-resource-management-corp-302327476.html
SOURCE Nut Tree Capital Management and Caspian Capital