Form 4: BG Cold, LLC Distributes Lineage, Inc. Shares to Members Following Reclassification of Legacy Class A Units

BG Cold, LLC distributed shares of Lineage, Inc. common stock to its members after reclassifying Legacy Class A Units into Partnership Common Units, according to a Form 4 filing.

Summary

• BG Cold, LLC, a significant shareholder in Lineage, Inc., distributed 489,640.73 shares of common stock to its members on August 26, 2024.
• This distribution followed a reclassification of Legacy Class A Units into Partnership Common Units.
• The reclassification involved 54,123 Legacy Class A Units.
• Adam Forste and Kevin Marchetti, both directors and officers of Lineage, Inc., also reported transactions related to this distribution due to their indirect management roles through Bay Grove Capital Group LLC.
• KPM Cold Storage LLC and AF Cold Promote Holdings LLC received shares and Partnership Common Units as part of the distribution.
• The filing indicates that Partnership Common Units can be redeemed for cash or Lineage, Inc. shares at the issuer's election.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing changes in ownership. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Future Outlook

The Reclassification of Legacy Class A Units to Partnership Common Units will occur from time to time before the third anniversary of the closing of the Issuer's initial public offering, with any reported Legacy Class A Units remaining after such three-year period forfeited for no consideration.

Management Comments

• BG Cold, Mr. Forste and Mr. Marchetti disclaim beneficial ownership over these Shares, except to the extent of any pecuniary interest therein.
• Mr. Marchetti has sole power to vote and dispose of these securities, but disclaims beneficial ownership over these securities except to the extent of any pecuniary interest therein.
• Mr. Forste has sole power to vote and dispose of these securities, but disclaims beneficial ownership over these securities except to the extent of any pecuniary interest therein.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The distribution of shares may have a minor impact on the shareholder base, but the overall effect is likely minimal as it involves internal transfers.
• The reclassification and distribution do not directly impact employees, customers, suppliers, or creditors.

Key Dates