3 Feb 2022material agreement▼ Bad
A fifth Stonepeak warrant amendment.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 Feb 2022substantial holder notice● Neutral
SP COMMON EQUITY SUBSIDIARY LLC, SP PREFERRED EQUITY SUBSIDIARY LLC, STONEPEAK CATARINA HOLDINGS LLC, STONEPEAK TEXAS MIDSTREAM HOLDCO LLC, STONEPEAK CATARINA UPPER HOLDINGS LLC, STONEPEAK ASSOCIATES LLC, STONEPEAK GP HOLDINGS LP, STONEPEAK GP INVESTORS LLC, STONEPEAK GP INVESTORS MANAGER LLC, MICHAEL DORRELL reported a Evolve Transition Infrastructure LP shareholding of 111,654,790 shares (68.10% of votes) in a periodic institutional filing.
2 Feb 2022director interest notice● Neutral
Evolve Transition Infrastructure LP insider Stonepeak Catarina Holdings LLC received 24,502,356 shares as part of the equity award.
31 Jan 2022substantial holder notice● Neutral
Invesco Ltd reported a Evolve Transition Infrastructure LP shareholding of 1,747,546 shares (1.50% of votes) in a periodic institutional filing.
4 Jan 2022director interest notice● Neutral
Evolve Transition Infrastructure LP insider Gerald F Willinger had 548,759 shares withheld for taxes on vesting stock.
6 Dec 2021substantial holder notice● Neutral
Michael A. Keuss disclosed a new substantial Evolve Transition Infrastructure LP shareholding (6.30% of votes).
6 Dec 2021substantial holder notice● Neutral
Randall L. Gibbs disclosed a new substantial Evolve Transition Infrastructure LP shareholding (6.30% of votes).
2 Dec 2021director interest notice● Neutral
Michael A. Keuss became a Evolve Transition Infrastructure LP President / Chief Oper. Off. and company insider (initial ownership filing).
2 Dec 2021director interest notice● Neutral
Randall L. Gibbs became a Evolve Transition Infrastructure LP Chief Executive Officer and company insider (initial ownership filing).
2 Dec 2021director interest notice● Neutral
Jonathan C. M. Hartigan became a Evolve Transition Infrastructure LP President / Chief Invest. Off. and company insider (initial ownership filing).
12 Nov 2021securities registration● Neutral
Evolve Transition Infrastructure LP registered a securities offering with the SEC.
10 Nov 2021material agreement▼ Bad
Another amendment to Stonepeak's warrant, the fourth. Each one is small; the pattern is a preferred holder steadily improving its claim on a partnership that cannot repay it.
10 Nov 2021quarterly activities report▼ Bad
Evolve Transition Infrastructure LP reported quarterly revenue of $16.9 million and a net loss of $28.5 million for the period ended 2021-09-30.
9 Nov 2021director officer appointment● NeutralMajor
Evolve agreed to fund development of HOBO Renewable Diesel's first project, a 9,000 barrel-a-day renewable fuels facility. A second energy-transition venture in three months, funded by a partnership that had just cut its equity programme to $7 million.
2 Nov 2021substantial holder notice● Neutral
SP COMMON EQUITY SUBSIDIARY LLC, STONEPEAK CATARINA HOLDINGS LLC, STONEPEAK TEXAS MIDSTREAM HOLDCO LLC, STONEPEAK CATARINA UPPER HOLDINGS LLC, STONEPEAK ASSOCIATES LLC, STONEPEAK GP HOLDINGS LP, STONEPEAK GP INVESTORS LLC, STONEPEAK GP INVESTORS MANAGER LLC, MICHAEL DORRELL reported a Evolve Transition Infrastructure LP shareholding of 84,429,950 shares (70.70% of votes) in a periodic institutional filing.
2 Nov 2021director interest notice● Neutral
Evolve Transition Infrastructure LP insider Stonepeak Catarina Holdings LLC received 10,832,186 shares as part of the equity award.
28 Oct 2021quarterly activities report▼ Bad
Evolve Transition Infrastructure LP reported quarterly revenue of $16.9 million and a net loss of $28.5 million for the period ended 2021-09-30.
22 Sept 2021business combination● NeutralMajor
Stonepeak and the partnership withdrew the going-private statement (Amendment No. 3, marked as the final amendment). They say that further common unit issuances under the partnership's at-the-market offering and a higher unit price mean they no longer expect Stonepeak to get enough units to trigger the call right before December 31, 2022. This reverses the early-2021 expectation of a buyout as soon as Q1 2021, though it is a postponement, not a waiver, of the right. The partnership is now named Evolve Transition Infrastructure LP.
17 Sept 2021securities registration● Neutral
Evolve Transition Infrastructure LP filed a prospectus supplement for an offering off its existing shelf.
8 Sept 2021securities registration● Neutral
Evolve Transition Infrastructure LP filed a prospectus supplement for an offering off its existing shelf.
23 Aug 2021debt financing● Neutral
The twelfth credit amendment followed, restructuring the facility around its single remaining lender.
23 Aug 2021securities registration● Neutral
Evolve Transition Infrastructure LP filed a prospectus supplement for an offering off its existing shelf.
12 Aug 2021material agreement▼ BadMajor
Royal Bank of Canada agreed to buy out the other lenders' positions at par and become the sole lender. A syndicate collapsing to one bank means the others wanted out; whether that is a rescue or a wind-down depends entirely on what the remaining bank chooses to do.
12 Aug 2021quarterly activities report▼ Bad
Evolve Transition Infrastructure LP reported quarterly revenue of $9.1 million and a net loss of $27.8 million for the period ended 2021-06-30.
4 Aug 2021material agreement● NeutralMajor
Evolve's pivot became concrete: it formed Levo Mobility with Nuvve and Stonepeak to finance and deploy electric school-bus fleets and charging infrastructure. A gas gathering partnership funding electric vehicle infrastructure alongside the same investor that holds its preferred - the "transition" in the new name, and a business with no revenue history at all.
3 Aug 2021debt financing● Neutral
The eleventh amendment to the credit agreement adjusted the cash definitions the covenants turn on - housekeeping in a facility that had been amended almost every year since 2015.
3 Aug 2021substantial holder notice● Neutral
SP COMMON EQUITY SUBSIDIARY LLC, STONEPEAK CATARINA HOLDINGS LLC, STONEPEAK TEXAS MIDSTREAM HOLDCO LLC, STONEPEAK CATARINA UPPER HOLDINGS LLC, STONEPEAK ASSOCIATES LLC, STONEPEAK GP HOLDINGS LP, STONEPEAK GP INVESTORS LLC, STONEPEAK GP INVESTORS MANAGER LLC, MICHAEL DORRELL reported a Evolve Transition Infrastructure LP shareholding of 71,151,056 shares (73.70% of votes) in a periodic institutional filing.
3 Aug 2021director interest notice● Neutral
Evolve Transition Infrastructure LP insider Stonepeak Catarina Holdings LLC received 8,012,850 shares as part of the equity award.
25 June 2021material agreement termination▼ BadMajor
Mesquite Energy, formerly Sanchez Energy, gave notice on June 24, 2021 that it was terminating the June 2020 Settlement Agreement, so the Catarina acreage dedication, the Seco transportation agreements and the releases never took effect. Existing gathering and gas lift agreements were unchanged, and Evolve raised its Western Catarina tariff for interruptible volumes outside the dedicated acreage.
27 May 2021director interest notice● Neutral
Stonepeak Rocket Holdings LP became a Evolve Transition Infrastructure LP company insider (initial ownership filing).