Excelerate Energy Enters Material Definitive Agreement

TL;DR

XLRT signed a big deal, details TBD.

AI Summary

Excelerate Energy, Inc. announced on April 4, 2024, that it entered into a material definitive agreement. The filing does not disclose specific details of the agreement, the counterparty, or any associated financial figures.

Why It Matters

This filing indicates a significant new business development for Excelerate Energy, potentially impacting its future operations and financial performance.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the agreement.

Key Players & Entities

• Excelerate Energy, Inc. (company) — Registrant
• 0000950170-24-042254 (filing_id) — Accession Number
• April 04, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — hich registered Class A Common Stock, $0.001 par value per share EE New York Sto

Filing Documents

• ee-20240404.htm (8-K) — 43KB
• ee-ex10_1.htm (EX-10.1) — 35KB
• 0000950170-24-042254.txt ( ) — 196KB
• ee-20240404.xsd (EX-101.SCH) — 24KB
• ee-20240404_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. In connection with the initial public offering of Excelerate Energy, Inc. (the "Company"), the Company entered into a Stockholder's Agreement, as further amended in August 2023 (the "Stockholder's Agreement"), with Excelerate Energy Holdings, LLC ("EE Holdings") and Excelerate Energy Limited Partnership ("EELP"). The Stockholder's Agreement grants EE Holdings, subject to the board's fiduciary duties and certain ownership thresholds, the right to designate the chairperson of the Company's board of directors (the "Board"), a certain number of nominees for election to the Board and, subject to listing exchange requirements, certain committee members (together, the "Board and Committee Composition Rights"). In the event that EE Holdings ceases to have the right to designate one or more director(s), if requested by the chairperson of the Board or a majority of directors then in office, the director designee selected by EE Holdings shall resign (the "Resignation Provision") or EE Holdings shall take all action necessary to remove such director designee. Additionally, EE Holdings has certain observer rights as long as EE Holdings (including its permitted transferees) has the right to designate director-designees under the Stockholder's Agreement. The Stockholder's Agreement also specifies that the Company will not take certain significant actions specified therein without the prior written consent of EE Holdings, subject to specified ownership thresholds (the "Consent Rights"). Recently, in an opinion captioned West Palm Beach Firefighters' Pension Fund v. Moelis & Company (" Moelis "), the Court of Chancery of the State of Delaware declared invalid certain rights that are similar to some of the Board and Committee Composition Rights and to the Consent Rights. In light of the Moelis decision, on April 4, 2024, the Company, EELP and EE Holdings have entered into a Waiver Agreement with respect to the Stockholder's Ag

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Waiver Agreement, by and among the Company, EE Holdings and EELP, dated April 4, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Excelerate Energy, Inc. Date: April 5, 2024 By: /s/ Dana Armstrong Dana Armstrong Executive Vice President and Chief Financial Officer (Principal Financial Officer)

View Full Filing

View this 8-K filing on SEC EDGAR