Form 4: Blackstone Entities Report Class A Common Stock Transactions in Kinetik Holdings Inc.
SEC Form 4
Blackstone Holdings and related entities report the acquisition of Class A Common Stock in Kinetik Holdings Inc. through the settlement of Consideration Allocation Rights.
Summary
- On October 24, 2024, Blackstone Holdings III L.P. and related entities reported transactions in Kinetik Holdings Inc. (KNTK) Class A Common Stock.
- The transactions involved the acquisition of shares through the settlement of Consideration Allocation Rights.
- 481 shares of Class A Common Stock were acquired, resulting in a total of 10,256,208 shares beneficially owned indirectly by BCP Raptor Aggregator, LP.
- Additionally, 78 shares of Class A Common Stock were acquired, resulting in a total of 1,658,066 shares beneficially owned indirectly by BX Permian Pipeline Aggregator LP.
- The Consideration Allocation Rights are related to an agreement dated February 22, 2022, where additional shares of Class A Common Stock may be issued on February 25, 2025, and February 25, 2026, or an earlier settlement date, based on forfeitures by original holders from a Contribution Agreement dated October 21, 2021.
Sentiment
Score: 6
Explanation: The document is a standard SEC filing detailing transactions by a major shareholder. It doesn't contain overtly positive or negative information, but rather reports factual changes in ownership. Therefore, a neutral sentiment score is appropriate.
Future Outlook
The document references future potential issuance of Class A Common Stock on February 25, 2025, and February 25, 2026, contingent on forfeitures by original holders as per the Consideration Allocation Agreement.
Industry Context
This filing reflects ongoing ownership adjustments within Kinetik Holdings, a company operating in the midstream energy sector, by one of its major shareholders, Blackstone. Such filings are typical for companies with significant institutional ownership.
Stakeholder Impact
- The change in beneficial ownership may be of interest to shareholders, but the impact is likely minimal as it reflects pre-existing agreements.
Key Dates
| Date | Description |
|---|---|
| 2021-10-21 | Date of the Contribution Agreement by and among the Issuer, Kinetik Holdings LP, BCP Raptor Holdco, LP and New BCP Raptor Holdco, LLC. |
| 2022-02-22 | Date of the Consideration Allocation Agreement by and among the Issuer and certain stockholders. |
| 2024-10-24 | Date of transaction: Acquisition of Class A Common Stock through settlement of Consideration Allocation Rights. |
| 2024-10-28 | Date of signing the Form 4 filing. |
| 2025-02-25 | Potential date for issuance of additional shares of Class A Common Stock pursuant to Consideration Allocation Rights. |
| 2026-02-25 | Potential date for issuance of additional shares of Class A Common Stock pursuant to Consideration Allocation Rights. |
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