3//SEC Filing
Energy Transfer Partners, L.L.C. 3
Accession 0001209191-18-024666
CIK 0001522727other
Filed
Apr 10, 8:00 PM ET
Accepted
Apr 11, 5:44 PM ET
Size
16.3 KB
Accession
0001209191-18-024666
Insider Transaction Report
Form 3
Energy Transfer Equity, L.P.
10% Owner
Holdings
- (indirect: By Energy Transfer Partners, L.P.)
Class B Units (Limited Partner Interests)
From: 2019-04-02→ Common Units (6,397,965 underlying) - 19,191,351(indirect: By Energy Transfer Partners, L.P.)
Common Units (Limited Partner Interests)
- 8,000,000(indirect: By LLC)
Common Units (Limited Partner Interests)
- 12,466,912(indirect: By Energy Transfer Partners, L.L.C.)
Common Units (Limited Partner Interests)
LE GP LLC
10% Owner
Holdings
- 12,466,912(indirect: By Energy Transfer Partners, L.L.C.)
Common Units (Limited Partner Interests)
- 8,000,000(indirect: By LLC)
Common Units (Limited Partner Interests)
- 19,191,351(indirect: By Energy Transfer Partners, L.P.)
Common Units (Limited Partner Interests)
- (indirect: By Energy Transfer Partners, L.P.)
Class B Units (Limited Partner Interests)
From: 2019-04-02→ Common Units (6,397,965 underlying)
U S PROPANE LLC
10% Owner
Holdings
- 12,466,912(indirect: By Energy Transfer Partners, L.L.C.)
Common Units (Limited Partner Interests)
- 8,000,000(indirect: By LLC)
Common Units (Limited Partner Interests)
- 19,191,351(indirect: By Energy Transfer Partners, L.P.)
Common Units (Limited Partner Interests)
- (indirect: By Energy Transfer Partners, L.P.)
Class B Units (Limited Partner Interests)
From: 2019-04-02→ Common Units (6,397,965 underlying)
WARREN KELCY L
10% Owner
Holdings
- 19,191,351(indirect: By Energy Transfer Partners, L.P.)
Common Units (Limited Partner Interests)
- 12,466,912(indirect: By Energy Transfer Partners, L.L.C.)
Common Units (Limited Partner Interests)
- 8,000,000(indirect: By LLC)
Common Units (Limited Partner Interests)
- (indirect: By Energy Transfer Partners, L.P.)
Class B Units (Limited Partner Interests)
From: 2019-04-02→ Common Units (6,397,965 underlying)
Footnotes (7)
- [F1]On April 2, 2018 (the "Closing Date"), pursuant to the Purchase Agreement, dated as of January 15, 2018, by and among Energy Transfer Equity, L.P. ("ETE"), Energy Transfer Partners, L.L.C. ("ETP LLC" and, together with ETE, the "GP Purchasers"), USA Compression Holdings, LLC ("USAC Holdings") and, solely for certain purposes therein, R/C IV USACP Holdings, L.P. and Energy Transfer Partners, L.P. ("ETP"), the GP Purchasers acquired from USAC Holdings (i) all of the outstanding limited liability company interests in USA Compression GP, LLC ("USAC GP"), the general partner of USA Compression Partners, LP ("USAC"), and (ii) 12,466,912 common units representing limited partner interests in USAC ("USAC Common Units") for cash consideration equal to $250 million (the "GP Purchase").
- [F2]These securities are held of record by ETP LLC, a wholly owned subsidiary of ETE. Kelcy L. Warren ("Mr. Warren") is Chairman of the Board of LE GP, LLC, the general partner of ETE ("LE GP"), and Mr. Warren holds an 81.2% interest in LE GP. Each of ETE, LE GP and Mr. Warren may be deemed to share beneficial ownership of the securities held of record by ETP LLC. Each such entity or person disclaims any such beneficial ownership of such securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
- [F3]On the Closing Date, pursuant to the Contribution Agreement, dated as of January 15, 2018, by and among ETP, Energy Transfer Partners GP, L.P. ("ETP GP"), ETC Compression, LLC, USAC and, solely for certain purposes therein, ETE, ETP contributed to USAC all of the outstanding membership interests in CDM Resources Management LLC and CDM Environmental & Technical Services LLC in exchange for (i) 19,191,351 USAC Common Units, (ii) 6,397,965 Class B Units (as defined in footnote 7) and (iii) an amount in cash equal to $1.232 billion.
- [F4]These securities are held of record by ETP. ETP GP is the general partner of ETP, and ETP LLC is the general partner of ETP GP. ETP GP and ETP LLC are each wholly owned subsidiaries of ETE. See footnote 2 for additional description of the beneficial ownership of ETE. Each of ETP GP, ETP LLC, ETE, LE GP and Mr. Warren may be deemed to share beneficial ownership of the securities held of record by ETP. Each such entity or person disclaims any such beneficial ownership of such securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
- [F5]On the Closing Date, pursuant to the Equity Restructuring Agreement, dated as of April 2 2018, by and among ETE, USAC and USAC GP, ETE caused USAC GP to cancel the incentive distribution rights in USAC and to convert USAC's general partner interest into a non-economic general partner interest in exchange for the issuance of 8,000,000 USAC Common Units to USAC GP.
- [F6]These securities are held of record by USAC GP. As a result of the GP Purchase, USAC GP is a wholly owned subsidiary of ETE. See footnote 2 for additional description of the beneficial ownership of ETE. Each of ETP LLC, ETE, LE GP and Mr. Warren may be deemed to share beneficial ownership of the securities held of record by USAC GP. Each such entity or person disclaims any such beneficial ownership of such securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
- [F7]The Class B units representing limited partner interests in USAC (the "Class B Units") are a new class of partnership interests of USAC with substantially all of the rights and obligations of a USAC Common Unit, except the Class B Units will not participate in distributions made prior to the one year anniversary of the Closing Date. The Class B Units will automatically convert into USAC Common Units on the first business day following the record date attributable to the quarter ending June 30, 2019.
Documents
Issuer
USA Compression Partners, LP
CIK 0001522727
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0001277107
Filing Metadata
- Form type
- 3
- Filed
- Apr 10, 8:00 PM ET
- Accepted
- Apr 11, 5:44 PM ET
- Size
- 16.3 KB