17 Oct 2024director interest notice● Neutral
Evolve Transition Infrastructure LP 10%+ owner Stonepeak Rocket Holdings II LP disposed of 11,000,000 shares via option/appreciation-right settlement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Feb 2024listing compliance notice▼ BadMajor
Evolve Transition Infrastructure LP deregistered its securities, ending its obligation to file reports with the SEC.
20 Feb 2024director interest notice● Neutral
Evolve Transition Infrastructure LP director Richard S Langdon disposed of 2,727 shares via option/appreciation-right settlement.
20 Feb 2024business combination● NeutralMajor
This final amendment reports that on February 16, 2024 the general partner completed the buyout begun in January, purchasing all common units not already held by it or its controlled affiliates at $1.389285 per unit in cash. The general partner and its controlled affiliates now own all of Evolve's economic interests, trading on the NYSE American was suspended on February 16, 2024, and the exchange filed a Form 25 that day to withdraw the units from listing and registration. Evolve intends to file a Form 15 on February 26, 2024 to suspend its SEC reporting obligations. This resolves the call right thread and ends public unitholders' position.
20 Feb 2024director interest notice● Neutral
Evolve Transition Infrastructure LP Interim CEO, CFO & Secretary Charles C Ward disposed of 29,003 shares via option/appreciation-right settlement.
16 Feb 2024listing compliance notice● NeutralMajor
Evolve Transition Infrastructure LP's exchange filed to remove a class of its securities from listing.
14 Feb 2024securities registration● Neutral
Evolve Transition Infrastructure LP amended an already-effective registration statement.
14 Feb 2024securities registration● Neutral
Evolve Transition Infrastructure LP amended an already-effective registration statement.
14 Feb 2024listing compliance notice▼ Bad
Evolve Transition Infrastructure LP withdrew a registration statement, abandoning the offering it covered.
11 Jan 2024substantial holder notice● Neutral
SP COMMON EQUITY SUBSIDIARY LLC, SP PREFERRED EQUITY SUBSIDIARY LLC, EVOLVE TRANSITION INFRASTRUCTURE GP LLC, SP HOLDINGS, 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 HOLDINGS LP, STONEPEAK GP INVESTORS UPPER HOLDINGS LP, STONEPEAK GP INVESTORS HOLDINGS MANAGER LLC, MICHAEL DORRELL reported a Evolve Transition Infrastructure LP shareholding of 9,261,608 shares (100.00% of votes) in a periodic institutional filing.
10 Jan 2024business combination▼ BadMajor
Amendment No. 1 reports that the call right was exercised. The general partner and its controlled affiliates, after Stonepeak transferred the right to them, held 6,824,812 common units (about 81.6%) of 8,361,032 outstanding. On January 8, 2024 the general partner exercised the right to buy all other common units at $1.389285 per unit, an average of 20 trading-day closing prices on the NYSE American to January 4, 2024. This reverses the 'does not anticipate' statement in the November 2022 filing and ends public unitholders' position. The unit counts are small compared with 2022, which is consistent with the 1-for-30 reverse split in the running context (an inference).
10 Jan 2024director interest notice● Neutral
Evolve Transition Infrastructure LP insider Evolve Transition Infrastructure Gp LLC bought 1,536,220 shares on the open market at $1.39.
10 Jan 2024director interest notice● Neutral
Sp Common Equity Subsidiary LLC became a Evolve Transition Infrastructure LP company insider (initial ownership filing).
10 Jan 2024director interest notice● Neutral
Evolve Transition Infrastructure Gp LLC became a Evolve Transition Infrastructure LP company insider (initial ownership filing).
10 Jan 2024director interest notice● Neutral
Evolve Transition Infrastructure LP insider Stonepeak Gp Holdings LP bought 1,536,220 shares on the open market at $1.39.
8 Jan 2024listing compliance notice▼ BadMajor
The end: the general partner, holding over 80% of the units, exercised its contractual right to buy every remaining public unit for $1.389285 in cash and take the partnership private. Adjusted for the one-for-thirty reverse split seven months earlier, that is about 4.6 cents against pre-split units - the terminal value of an entity that was Constellation Energy Partners in 2006, Sanchez Production Partners in 2015 and Evolve Transition Infrastructure in 2021. No vote was required; the formula did the work.
2 Jan 2024material agreement▼ BadMajor
Evolve sold its half of Carnero G&P to Targa for $27 million plus a share of a future award. It had committed roughly $125 million for the Carnero interests in 2016, cash and assumed construction commitments together. This was the last significant asset sale before the public unitholders were bought out.
13 Nov 2023quarterly activities report▼ Bad
Evolve Transition Infrastructure LP reported quarterly revenue of $5.9 million and a net loss of $19.6 million for the period ended 2023-09-30.
2 Nov 2023director interest notice● Neutral
Evolve Transition Infrastructure LP insider Stonepeak Catarina Holdings LLC received 1,367,531 shares as part of the equity award.
2 Nov 2023director interest notice● Neutral
Evolve Transition Infrastructure LP insider Stonepeak Gp Holdings LP received 1,367,531 shares as part of the equity award.
11 Aug 2023quarterly activities report▼ Bad
Evolve Transition Infrastructure LP reported quarterly revenue of $6.0 million and a net loss of $9.9 million for the period ended 2023-06-30.
2 Aug 2023director interest notice● Neutral
Evolve Transition Infrastructure LP insider Stonepeak Catarina Holdings LLC received 1,321,286 shares as part of the equity award.
2 Aug 2023director interest notice● Neutral
Evolve Transition Infrastructure LP insider Stonepeak Gp Holdings LP received 1,321,286 shares as part of the equity award.
27 July 2023listing compliance notice▼ Bad
A further update on the delisting proceedings, which stayed unresolved into 2024.
6 July 2023director interest notice● Neutral
Stonepeak Gp Investors Holdings LP became a Evolve Transition Infrastructure LP company insider (initial ownership filing).
6 July 2023substantial holder notice● Neutral
Stonepeak GP Investors Holdings LP, Stonepeak GP Investors Upper Holdings LP, Stonepeak GP Investors Holdings Manager LLC disclosed a new substantial Evolve Transition Infrastructure LP shareholding (80.90% of votes).
27 June 2023listing compliance notice● Neutral
Evolve appealed the delisting determination, keeping the units trading while the review ran.
14 June 2023listing compliance notice▼ BadMajor
Evolve formally requested a review of the NYSE's delisting determination, which stayed the delisting while the trading suspension stayed in place and the units traded over-the-counter. The one-for-thirty reverse split date was also moved because FINRA had to review it.
9 June 2023listing compliance notice▼ BadMajor
The HOBO renewable diesel venture was terminated, filed alongside another listing notice. The first of Evolve's two energy-transition bets ended with nothing built.
30 May 2023material agreement● NeutralMajor
The Catarina gathering agreement was assigned as Mesquite's Catarina position changed hands again - Evolve's revenue now depends on a third owner of the same acreage in eight years.