Grace Dixon
February 23, 2026
Greenberg Traurig, Latham Steer Arko Petroleum's $200M IPO
2 min
AI-made summary
- • Arko Petroleum plans to raise $200 million through an initial public offering, selling shares at an estimated $18 to $20 each. • The company will offer 10.5 million Class A shares, with underwriters having the option to purchase an additional 1.57 million shares. • Net proceeds are estimated at $184 million, primarily to repay outstanding principal under a revolving credit facility. • Arko reported a decrease in revenue to $4.27 billion for the nine months ending Sept
- 30, 2025, compared to $4.9 billion in 2024. • The company attributed a 4.4% decline in fuel revenue to lower prices and volumes due to macroeconomic conditions and severe winter weather.
Arko Petroleum revealed plans on Tuesday to sell shares of its common stock at an estimated $18 to $20 per share via an initial public offering, teeing it up to raise $200 million at midpoint, guided by Greenberg Traurig LLP and Latham & Watkins LLP.
The wholesale fuel distributor plans to sell 10.5 million shares of Class A common stock and will grant underwriters the option to purchase another 1.57 million shares at the IPO price, per a registration statement filed with the U.S. Securities and Exchange Commission.
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 said in its Tuesday filing that it estimates it will see net proceeds of $184 million, or $211.8 million if the underwriters exercise their option to purchase additional shares. The company plans to use proceeds to repay approximately $184 million of the outstanding principal under a revolving credit facility.
As of Sept. 30, approximately $380 million was outstanding under the line of credit, which carries a 7.4% interest rate and matures in 2028. Any remaining proceeds will be used for general corporate purposes, per the securities filing.
The Arko Corp. subsidiary is one of the largest wholesale distributors of fuel by gallon in North America and serves customers in 30 states. It plans to list on the Nasdaq under the symbol APC, per the company's Tuesday announcement.
It attributed a 4.4% decrease in fuel revenue to dropping fuel prices and lower sale volumes driven by a tough macroeconomic environment and severe weather conditions this winter.
Arko reported a dip in revenues during the nine-month period leading up to Sept. 30, compared to the same nine-month period in 2024. The company saw $4.27 billion in revenue in 2025, compared to $4.9 billion in 2024, per securities filings.
Arko Petroleum Corp. is advised by Drew M. Altman and Win Rutherfurd of Greenberg Traurig.
The underwriters are advised by Stelios G. Saffos, Michael Benjamin and Kaj P. Nielsen of Latham & Watkins LLP.
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Grace Dixon
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