I Squared Capital, LLC's Form 4 filing
Kinetik Holdings Inc. (KNTK) · filed Mar 19, 2025
- Accession no.
- 0000905148-25-000972
- Filed
- Mar 19, 2025, 5:29 PM ET
- Trade date
- Mar 17-18, 2025
- Filing delay
- 2 days
- Rule 10b5-1 plan
- Not checked
This filing lists 3 non-derivative transactions and 1 derivative transaction. Open-market sales total $89.6M. It was filed 2 days after the trade.
Reporting owners
A Form 4 can have several reporting owners, such as a person and a fund they control. Trade tables show the first one.
| Owner | Relationship to the company |
|---|---|
| I Squared Capital, LLCCIK 0001904404 | 10% Owner |
| ISQ Holdings, LLCCIK 0001904413 | 10% Owner |
| ISQ Global Fund II GP LLCCIK 0001904934 | 10% Owner |
| Bhandari GautamCIK 0002020876 | 10% Owner |
| Wahba SadekCIK 0002020905 | 10% Owner |
Non-derivative securities (Table I)
Acquisitions and disposals of common stock and similar shares, one row per line on the filing.
| Trade date | Security | Transaction | Shares | Price | Value | Shares after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Mar 17, 2025 | Class A Common Stock | CConversionAcquired | +657,582 | –F1,F2 | – | 1,702,102 | Indirect | |
| Mar 17, 2025 | Class A Common Stock | SSaleDisposed | −1,044,519 | $52.66 | −$55,004,370.54 | 657,583 | Indirect | |
| Mar 18, 2025 | Class A Common Stock | SSaleDisposed | −657,582 | $52.66 | −$34,628,268.12 | 1 | Indirect |
Derivative securities (Table II)
Options, warrants, restricted stock units and similar. Shares are the underlying shares; price and value are for the derivative itself, and the holding after is in derivative units.
| Trade date | Security | Transaction | Underlying shares | Unit price | Value | Held after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Mar 17, 2025 | Class A Common Stock | CConversionDisposed | −657,582 | $0.00 | $0 | 26,831,582 | Direct |
Footnotes and remarks
Livermore keeps the footnotes that transaction prices refer to, all footnotes of amendments (Form 4/A) and the filing's remarks. Other footnotes, such as how indirect holdings are held or the details of a trading plan, are only in the original on SEC EDGAR.
- F1
Securities issued pursuant to and in connection with a contribution agreement (the "Contribution Agreement"), dated October 21, 2021, by and among Kinetik Holdings Inc., a Delaware corporation (f/k/a Altus Midstream Company, the "Issuer"), Kinetik Holdings LP, a Delaware limited partnership (f/k/a Altus Midstream LP, the "Partnership"), BCP Raptor Holdco, LP, a Delaware limited partnership, and New BCP Raptor Holdco, LLC, a Delaware limited liability company.
Referenced by the price of 1 transaction in Table I.
- F2
The term "Kinetik Holdings Units" is used herein to represent common units representing limited partnership interests in the Partnership ("Partnership Common Units") and an equal number of paired shares of Class C Common Stock of the Issuer. The terms of the Third Amended and Restated Agreement of Limited Partnership of the Partnership provide that each holder of Partnership Common Units (other than the Issuer) generally has the right to cause the Partnership to redeem all or a portion of its Partnership Common Units (the "Redemption Right") in exchange for shares of Class A Common Stock of the Issuer or, at the Partnership's election, an equivalent amount of cash. In connection with any redemption of Partnership Common Units pursuant to the Redemption Right, the corresponding number of shares of the Class C Common Stock will be cancelled. The Partnership Common Units and the right to exercise the Redemption Right have no expiration date.
Referenced by the price of 1 transaction in Table I.