SCHEDULE 13G/A: Crestview Entities Disclose Significant 16.9% Stake in Select Water Solutions
Beneficial Ownership Disclosure
Crestview Partners II GP, L.P. and its affiliates have filed an amended Schedule 13G, revealing a combined beneficial ownership of 16.9% of Select Water Solutions, Inc.'s Class A Common Stock as of December 31, 2024.
Summary
- Crestview Partners II GP, L.P. reported beneficial ownership of 20,120,296 shares, representing 16.9% of Select Water Solutions, Inc.'s Class A Common Stock.
- This total includes 16,221,101 Class A shares that would be issued upon full redemption of Common LLC Units of SES Holdings, a subsidiary of Select Water Solutions.
- Crestview Partners II SES Investment, LLC indirectly owns these 16,221,101 Common Units, which are redeemable for Class A Shares on a one-for-one basis, representing 13.6% of the class.
- Crestview Partners II SES Investment B, LLC directly owns 3,802,972 Class A shares, representing 3.7% of the class.
- Crestview Advisors, L.L.C. beneficially owns 96,223 Class A shares, or 0.1% of the class, which were assigned from former directors Robert V. Delaney, Jr. and Adam Klein.
- The beneficial ownership percentages are calculated based on 103,088,670 Class A Shares outstanding as of October 25, 2024, plus the 16,221,101 Common Units convertible into Class A Shares.
- The filing is an Amendment No. 7, indicating previous disclosures by these entities.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership, providing neutral information without positive or negative operational or financial implications.
Positives
- NA
Negatives
- NA
Risks
- NA
Future Outlook
NA
Industry Context
NA
Comparison to Industry Standards
- NA
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
Legal Proceedings
- NA
Related Party Transactions
- Former board members Robert V. Delaney, Jr. and Adam Klein assigned 96,223 Class A Shares, originally issued under the 2016 Equity Incentive Plan, to Crestview Advisors, L.L.C.
Stakeholder Impact
- Shareholders: Provides transparency regarding significant institutional ownership and potential influence on corporate governance due to the size of the stake.
Next Steps
- NA
Key Dates
| Date | Description |
|---|---|
| 2024-10-25 | Date Class A Shares outstanding (103,088,670) were reported in Issuer's Form 10-Q. |
| 2024-10-29 | Date Issuer's Form 10-Q was filed. |
| 2024-12-31 | Date of event requiring the filing of this statement (reporting period end date). |
| 2025-02-14 | Signature date of the Schedule 13G filing. |
Keywords
Select Water Solutions, Crestview Partners, Schedule 13G, Beneficial Ownership, Class A Common Stock, SEC Filing, Investment Firm, Institutional Ownership, Equity Stake, SES Holdings
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