Company: DLNG
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001104659-25-033744
Chunk: 157

Company: Dynagas LNG Partners LP
Filing Date: 2025-04-10
Form: 20-F
Item: Item 3
Chunk 157
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 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”.

Our long-term liquidity requirements relate primarily to funding capital expenditures, including the repayment of our long-term debt and the potential acquisition of additional vessels.

In accordance with our business strategy, other liquidity needs may relate to funding potential investments and maintaining cash reserves against fluctuations in operating cash flows. We expect that we will rely upon external financing sources, including bank borrowings, other financing arrangements and the issuance of debt and equity securities, to fund acquisitions and other expansion capital expenditures. Cash and cash equivalents are held in U. S. dollars. Please see “ Item 8. Financial Information - A. Consolidated Statements and Other Financial Information - Our Cash Distribution Policy” for a discussion of our cash distribution policy and how we define “available cash” under the Partnership Agreement.

Cash and cash equivalents

As of December 31, 2024, we reported cash and cash equivalents of $68.2 million which represented a decrease of $5.6 million, or 7.6%, compared to $73.8 million, as of December 31, 2023. Please see “ Item 5. Operating and Financial Review and Prospects - B. Liquidity and Capital Resources - Our Borrowing Activities.”

Working capital position

Working capital is equal to current assets minus current liabilities, including the current portion of long-term debt. As of December 31, 2024, we had a working capital deficit of $5.7 million as compared to the working capital deficit of $353.5 million as of December 31, 2023. Our working capital deficit was mainly due to the current portion of our long-term debt and other financial liabilities.

We believe that our anticipated sources of funds, as mentioned above and those that we anticipate to internally generate for a period of at least the next twelve months, will be sufficient to fund the operations of our Fleet, and to meet our normal working capital requirements, service our principal and interest debt, and make at least the required distribution on our Series A Preferred Units and Series B Preferred Units in accordance with our Partnership Agreement.

Our Borrowing Activities

As of December 31, 2024, we had $322.9 million outstanding under the 2024 Lease Financing (discussed below). As of December 31, 2024, we were in compliance with all of the covenants, including the