18 May 2015quarterly activities report▼ Bad
Evolve Transition Infrastructure LP reported quarterly revenue of $11.9 million and a net loss of $90.0 million for the period ended 2015-03-31.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
15 May 2015quarterly activities report▼ Bad
Evolve Transition Infrastructure LP reported quarterly revenue of $11.9 million and a net loss of $90.0 million for the period ended 2015-03-31.
15 May 2015quarterly activities report▼ Bad
Evolve Transition Infrastructure LP reported quarterly revenue of $11.9 million and a net loss of $90.0 million for the period ended 2015-03-31.
17 Apr 2015material agreement▼ Bad
A $100 million programme to dribble units into the market through MLV was put in place - continuous dilution as a funding source, at a partnership whose units were already thinly traded.
16 Apr 2015securities registration● Neutral
Evolve Transition Infrastructure LP filed notice of an exempt private placement.
15 Apr 2015capital raising announcement● NeutralMajor
On April 15, 2015, the partnership privately sold 234,375 newly created Class A Preferred Units at $1.60 each, for gross proceeds of $375,000 to be used for general working capital. It also agreed to register the resale of the underlying common units, with liquidated damages if registration was late.
6 Apr 2015quarterly activities report▼ Bad
Evolve Transition Infrastructure LP reported quarterly revenue of $11.9 million and a net loss of $90.0 million for the period ended 2015-03-31.
3 Apr 2015substantial holder notice● Neutral
Raging Capital Master Fund, Ltd, Raging Capital Management, LLC, William C. Martin reported a Evolve Transition Infrastructure LP shareholding of 4,700,658 shares (16.30% of votes) in a periodic institutional filing.
2 Apr 2015securities registration● Neutral
Evolve Transition Infrastructure LP amended a filing by which it filed notice of an exempt private placement.
2 Apr 2015securities registration● Neutral
Evolve Transition Infrastructure LP filed notice of an exempt private placement.
1 Apr 2015asset acquisition disposition▼ BadMajor
The first related-party purchase under Sanchez control: the partnership bought working interests in 59 Palmetto wellbores from Sanchez Energy for $85 million, paying $81.6 million cash and just over a million units, funded with a new credit agreement and a new class of preferred. Money flowing from the partnership to its controlling shareholder's other listed company, on terms no outside buyer negotiated.
24 Mar 2015substantial holder notice● Neutral
SANCHEZ ENERGY PARTNERS I, LP, SEP MANAGEMENT I, LLC, SANCHEZ OIL & GAS CORPORATION, ANTONIO R. SANCHEZ, III, A. R. SANCHEZ, JR reported a Evolve Transition Infrastructure LP shareholding of 5,969,818 shares (20.30% of votes) in a periodic institutional filing.
19 Mar 2015listing compliance notice▼ BadMajor
Evolve Transition Infrastructure LP terminated the registration of a class of securities, ending its reporting obligation for them.
18 Mar 2015business combination● Neutral
Final amendment to the Schedule 13E-3 on the conversion, filed by the company, Sanchez Oil & Gas, SP Holdings, Sanchez Energy Partners I, Antonio R. Sanchez III and Gerald F. Willinger. It reports that unitholders approved the Plan of Conversion on March 6, 2015 and that the Certificate of Conversion was filed in Delaware that day, so the company is now a limited partnership. The old LLC common units will be deregistered on application to the SEC and are no longer listed on the NYSE MKT. This closes the conversion thread; existing units became units of the new partnership one for one.
9 Mar 2015listing compliance notice● NeutralMajor
Evolve Transition Infrastructure LP's exchange filed to remove a class of its securities from listing.
6 Mar 2015business combination● NeutralMajor
The conversion into Sanchez Production Partners LP was completed on March 6, 2015, after the press release says all classes of unitholders approved it at a special meeting that day. This resolves the long-pending vote. Each common unit became one unit of the new partnership, trading under the same SPP ticker on the NYSE MKT from March 9, 2015. A Sanchez-owned general partner now manages the partnership, with its board appointed by SP Holdings, and the filing reports a change in control. SP Holdings received all incentive distribution rights and holds 59,562 common units (0.2%), while Sanchez Energy Partners I holds 5,951,800 common units (20.3%) after its Class A units converted and its Class Z unit was cancelled. No consideration was paid by the Sanchez parties. The 2009 incentive plan was restated as the Sanchez Production Partners LP Long-Term Incentive Plan, covering up to 15% of outstanding common units.
6 Mar 2015securities registration● Neutral
Evolve Transition Infrastructure LP amended an already-effective registration statement.
6 Mar 2015securities registration● Neutral
Evolve Transition Infrastructure LP registered a securities offering with the SEC using its shelf eligibility.
5 Mar 2015business combination● Neutral
A short filing registering an additional 58,042 common units of the post-conversion partnership, on top of the 29,322,146 already registered, with a stated fee of $10 based on a $1.38 unit price on March 2, 2015. It says the original registration statement was declared effective on January 30, 2015. This is a housekeeping increase in registered units, not a change in the conversion terms.
17 Feb 2015substantial holder notice● Neutral
Raging Capital Master Fund, Ltd, Raging Capital Management, LLC, William C. Martin reported a Evolve Transition Infrastructure LP shareholding of 4,519,038 shares (15.70% of votes) in a periodic institutional filing.
10 Feb 2015substantial holder notice● Neutral
Bradley Louis Radoff reported no remaining Evolve Transition Infrastructure LP shareholding in its periodic institutional filing.
9 Feb 2015substantial holder notice● Neutral
Dorsey R. Gardner reported a Evolve Transition Infrastructure LP shareholding of 2,477,377 shares (8.60% of votes) in a periodic institutional filing.
4 Feb 2015securities registration● Neutral
Evolve Transition Infrastructure LP filed the final prospectus for a registered offering.
26 Jan 2015business combination● Neutral
Another Schedule 13E-3 amendment on the planned conversion, filed by the company, Sanchez Oil & Gas, SP Holdings, Sanchez Energy Partners I, Antonio R. Sanchez III and Gerald F. Willinger. It is labelled Amendment No. 4 and says the registration statement has been amended through Amendment No. 6; the filing's own numbering does not match the earlier Amendment No. 5 filed the same day, so treat this as a labelling inconsistency in the filings. It mostly cross-references the proxy statement/prospectus and states no new terms. The vote remains pending.
26 Jan 2015business combination● Neutral
Amendment No. 7 to the conversion registration statement. Terms are unchanged: one-for-one common units, Class A units converted to common units equal to 2% of the total, Class Z unit cancelled, a Sanchez Oil & Gas affiliate becoming general partner and another receiving incentive distribution rights. The board still recommends voting FOR. The record date of February 4, 2015 is repeated, and the meeting date is still blank (2015), so approval remains pending.
26 Jan 2015business combination● Neutral
Amendment No. 5 to the Schedule 13E-3 for the conversion, with the same filing persons as before (the company, Sanchez Oil & Gas, SP Holdings, Sanchez Energy Partners I, Antonio R. Sanchez III and Gerald F. Willinger). Terms are unchanged and it cross-references the proxy statement/prospectus, which it says has now been amended through Amendment No. 7 and is still preliminary. The vote is still pending.
14 Jan 2015business combination● Neutral
Amendment No. 6 to the conversion registration statement. Terms are unchanged, but for the first time a record date is set: February 4, 2015 is the date for deciding which holders can vote at the special meeting. The meeting date itself is still blank (2015), so approval remains pending.
30 Dec 2014business combination● Neutral
Amendment No. 3 to the Schedule 13E-3 for the planned conversion, filed by the company together with Sanchez Oil & Gas, SP Holdings, Sanchez Energy Partners I, Antonio R. Sanchez III and Gerald F. Willinger. Terms are unchanged, and it mostly cross-references the proxy statement/prospectus, which it says has now been amended through Amendment No. 5 and is still preliminary. This continues the pending vote.
30 Dec 2014business combination● Neutral
Amendment No. 5 to the registration statement for converting the company into Sanchez Production Partners LP. Terms are unchanged: one-for-one common units, Class A units converted to common units equal to 2% of the total, Class Z unit cancelled, a Sanchez Oil & Gas affiliate becoming general partner and another receiving incentive distribution rights. The board still recommends voting FOR, and the meeting is still shown only as 2015 with the date blank, so approval remains pending.
24 Dec 2014substantial holder notice● Neutral
SANCHEZ ENERGY PARTNERS I, LP, SEP MANAGEMENT I, LLC, SANCHEZ OIL & GAS CORPORATION, ANTONIO R. SANCHEZ, III, A. R. SANCHEZ, JR reported a Evolve Transition Infrastructure LP shareholding of 5,430,160 shares (18.86% of votes) in a periodic institutional filing.