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Pursuant to the Reverse Split, common unitholders will receive one common unit for every thirty common units they own at the close of trading on
The Reverse Split is primarily intended to bring the Partnership into compliance with the continued listing standards set forth in Section 1003(f)(v) of the NYSE American Company Guide.
The Reverse Split uniformly affects all issued and outstanding common units as well as all units under Evolve’s long term incentive plans, warrants and associated reserves. The Partnership anticipates that the Reverse Split will decrease the number of common units outstanding from approximately 254.4 million to 8.5 million.
The Partnership’s transfer agent,
Unitholders owning units via a broker, bank, trust or other nominee will have their positions automatically adjusted to reflect the Reverse Split, subject to such broker’s particular processes, and will not be required to take any action in connection with the Reverse Split.
A new CUSIP number for the common units will be issued and announced in connection with the Reverse Split.
This press release contains “forward-looking statements,” which involve risks and uncertainties. All statements, other than statements of present or historical fact, included in this press release are forward-looking statements. Any statements that refer to Evolve’s future strategy, future uses of capital, future operations, plans and objectives of management or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “expect,” “plan,” “anticipate,” “believe,” “project” or the negative of such terms or other similar expressions. These forward-looking statements are based on management’s current beliefs, expectations and assumptions regarding the future of Evolve’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions.
These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about Evolve that may cause Evolve’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward looking statements. Therefore, you should not rely on any of these forward-looking statements. Management cautions all readers that the forward-looking statements contained in this press release are not guarantees of future performance, and actual results may differ materially from those anticipated or implied in forward-looking statements. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, please read Evolve’s filings with the
ABOUT THE PARTNERSHIP
Additional information about Evolve can be found in our documents on file with the
Interim Chief Executive Officer, Chief Financial Officer and Secretary
Source: Evolve Transition Infrastructure LP