Company: DLNG
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001104659-25-033744
Chunk: 164

Company: Dynagas LNG Partners LP
Filing Date: 2025-04-10
Form: 20-F
Item: Item 3
Chunk 164
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 - the - market program established in July of 2020 pursuant to the Original Agreement (the “ Prior ATM Program”). At the time of such termination, the Partnership had issued and sold 122,580 common units resulting in net proceeds of $0.3 million, under the Original Agreement. During the year ended December 31, 2021, we issued and sold 1,189,667 of our common units resulting in net proceeds of $3.3 million under the A& R Sales Agreement. No common units were sold under the A& R Sales Agreement during the years ended December 31, 2022, 2023 and 2024. The A& R Sales Agreement is no longer in effect.

On November 21, 2024, our Board of Directors authorized the Common Unit Repurchase Program, which authorizes the repurchase of up to an aggregate of $10 million of our outstanding common units over 12 months. Repurchases of common units under the Common Unit Repurchase Program may be made, from time to time, in privately negotiated transactions, in open market transactions, or by other means, including through trading plans intended to qualify under Rule 10b-18 and/or Rule 10b5-1 of the Exchange Act. The amount and timing of any repurchases made under the Common Unit Repurchase Program will be in our management team’s sole discretion, and will depend on a variety of factors, including legal requirements, market conditions, other investment opportunities, available liquidity, and the prevailing market price of the common units. The Common Unit Repurchase Program does not obligate us to repurchase any dollar amount or number of common units, and the Common Unit Repurchase Program may be suspended or discontinued at any time at our discretion. During the year ended December 31, 2024, we re-purchased 55,118 common units for a total amount of $0.2 million. See “ Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers”.

Recent Developments

Distributions

On January 21, 2025, we declared a cash distribution of $0.5625 per unit on our Series A Preferred Units for the period from November 12, 2024 to February 11, 2025, which was paid on February 12, 2025 to all Series A preferred unitholders of record as of February 5, 2025.

On February 4, 2025, we declared a cash