Form 4: Opal HoldCo LLC Converts 71.5 Million Class D Shares to Class B
SEC Form 4 Filing
Opal HoldCo LLC converted 71.5 million shares of Class D common stock into Class B common stock on March 12, 2024.
Summary
- On March 12, 2024, OPAL HoldCo LLC converted 71,500,000 shares of Class D common stock into Class B common stock of OPAL Fuels Inc.
- The conversion was executed following OPAL HoldCo LLC's delivery of a conversion notice to the company.
- As a result of the transaction, OPAL HoldCo LLC now owns 70,877,450 shares of Class D common stock and 71,500,000 shares of Class B common stock.
- The Class B Common Units of OPAL Fuels LLC are redeemable at any time by the reporting person for, at the election of the Company, newly-issued Class C common stock on a one-for-one basis or a cash payment equal to the volume weighted average market price of one Class C common stock for each Class B Common Unit redeemed.
- Upon the redemption of any Class B Common Units, a number of Class D common stock equal to the number of Class B Common Units that are redeemed will be cancelled by the Issuer for no consideration.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing a stock conversion, which is a neutral event.
Industry Context
This filing reflects changes in the ownership structure of OPAL Fuels Inc., a company in the renewable fuels sector. Conversions between different classes of stock are not uncommon and can be related to strategic decisions by major shareholders.
Stakeholder Impact
- The conversion of shares may have a slight impact on the voting power distribution among shareholders.
Key Dates
| Date | Description |
|---|---|
| 03/12/2024 | Date of transaction: OPAL HoldCo LLC converted Class D common stock into Class B common stock. |
| 03/14/2024 | Date of signature on the SEC Form 4 filing. |
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