4//SEC Filing
Blueknight Energy Partners, L.P. 4
Accession 0000899243-16-031416
CIK 0001392091operating
Filed
Oct 5, 8:00 PM ET
Accepted
Oct 6, 5:01 PM ET
Size
7.6 KB
Accession
0000899243-16-031416
Insider Transaction Report
Form 4
Biotti Jon
Other
Transactions
- Disposition to Issuer
Series A Preferred Units
2016-10-05$7.15/sh−6,667,695$47,674,019→ 2,488,789 total(indirect: See footnote)Exercise: $6.50→ Common Units (6,667,695 underlying)
Footnotes (3)
- [F1]Pursuant to the Preferred Unit Repurchase Agreement (the "Repurchase Agreement") by and among CB-Blueknight, LLC ("Charlesbank Holding"), Blueknight Energy Holding, Inc. ("Vitol Holding") and Blueknight Energy Partners, L.P. (the "Issuer") dated as of July 19, 2016, Charlesbank Holding sold 6,667,695 Series A Preferred Units representing limited partner interests of the Issuer (the "Preferred Units") to the Issuer for $7.15 per Preferred Unit on October 5, 2016, plus an amount equal to (i) the full quarterly cash Issuer distribution allotted to such Preferred Units for the quarter immediately preceding the quarter in which the closing of the Repurchase Agreement occurred, plus (ii) the pro rata share of the Issuer distribution paid in respect of such Preferred Units for the quarter in which the closing of the Repurchase Agreement occurred.
- [F2]The Preferred Units have no expiration date and are convertible at any time, in whole or in part, on a one-for-one basis into Common Units representing limited partner interests of the Issuer at the holder's election as set forth in the Fourth Amended and Restated Agreement of Limited Partnership of the Issuer, dated September 14, 2011 and filed with the Securities and Exchange Commission as Exhibit 3.1 to the Issuer's Current Report on Form 8-K filed on September 14, 2011.
- [F3]Mr. Biotti serves as a managing director of Charlesbank Capital Partners, LLC, which is the investment adviser to certain entities that serve as members of Charlesbank Holding. Mr. Biotti disclaims beneficial ownership of the securities held by Charlesbank Holding, except to the extent of Mr. Biotti's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, Mr. Biotti states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.
Documents
Issuer
Blueknight Energy Partners, L.P.
CIK 0001392091
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001392091
Filing Metadata
- Form type
- 4
- Filed
- Oct 5, 8:00 PM ET
- Accepted
- Oct 6, 5:01 PM ET
- Size
- 7.6 KB