Nate Beck
February 23, 2026
Greenberg Traurig Leads Arko Petroleum's Upsized $200M IPO
1 min
AI-made summary
- • Arko Petroleum began trading after raising $200 million through an expanded initial public offering priced at $18 per share. • The company sold 11.1 million shares and granted underwriters an option to purchase an additional 1.6 million shares. • Arko Petroleum is a subsidiary of Arko Corp., operating in 30 states as a fuel wholesaler and convenience store operator. • Proceeds from the offering will be used to repay $184 million on a revolving credit facility, and the company will list on Nasdaq as APC. • Greenberg Traurig LLP advised Arko Petroleum, while Latham & Watkins LLP advised the underwriters.
Fuel distribution company Arko Petroleum began trading Thursday after raising $200 million by expanding its offering of shares priced at the low end of its range in an initial public offering guided by Greenberg Traurig LLP and Latham & Watkins LLP.
Arko priced the shares at $18, the low end of an $18 to $20 range. The company previously said it planned to sell 10.5 million shares of Class A stock and would give underwriters an option to purchase another 1.6 million shares.
The company, in total, sold 11.1 million shares and granted the additional purchase option to the underwriters for 1.6 million shares.
Arko Petroleum is a subsidiary of Richmond, Virginia-based Arko Corp., an operator of convenience stores and wholesaler of fuel. Arko Petroleum serves customers in 30 states.
UBS Investment Bank, Raymond James and Stifel are lead underwriters, while Mizuho and Capital One Securities are also serving as underwriters, per the securities filing.
Arko Petroleum previously said it plans to use proceeds from the offering to pay back $184 million for a revolving credit facility. The company will list on the Nasdaq under the symbol APC.
Arko Petroleum Corp. is advised by Drew M. Altman, Win Rutherfurd and Theodore Blum of Greenberg Traurig LLP.
The underwriters are advised by Stelios G. Saffos, Michael Benjamin, Kaj P. Nielsen, Giulia Franzoso, Sheen Moaleman, Bradd Williamson, Rifka Singer, Drew Baker, Tim Fenn, Jared Grimley, Christina McLeod, Joshua Marnitz, Reilly Nelson and Austin Pierce of Latham & Watkins LLP.
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Nate Beck
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