Kinetik Holdings Inc. Files 8-K: Agreements, Officer Changes
Ticker: KNTK · Form: 8-K · Filed: Apr 8, 2024 · CIK: 1692787
Sentiment: neutral
Topics: material-definitive-agreement, corporate-governance, financial-obligation
Related Tickers: KNTK
TL;DR
Kinetik Holdings Inc. (KNTK) filed an 8-K detailing new financial obligations and executive/director changes.
AI Summary
Kinetik Holdings Inc. announced on April 2, 2024, the entry into a material definitive agreement related to a direct financial obligation. The company also reported the departure of directors or certain officers, the election of new directors, and the appointment of certain officers, along with compensatory arrangements. This filing also includes Regulation FD disclosures and financial exhibits.
Why It Matters
This 8-K filing indicates significant corporate actions, including new financial obligations and changes in leadership, which could impact the company's strategic direction and investor confidence.
Risk Assessment
Risk Level: medium — The filing involves material definitive agreements and changes in corporate governance, which can introduce uncertainty and potential risks.
Key Players & Entities
- Kinetik Holdings Inc. (company) — Registrant
- April 2, 2024 (date) — Date of Report
- 0001692787-24-000020 (filing_id) — Accession Number
FAQ
What is the nature of the material definitive agreement entered into by Kinetik Holdings Inc.?
The filing indicates the entry into a material definitive agreement that creates a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant, but specific details are not provided in the provided text.
What specific changes occurred regarding directors and officers?
The filing reports the departure of directors or certain officers, the election of directors, and the appointment of certain officers, along with compensatory arrangements.
When was the report filed and what is the earliest event date?
The report was filed on April 8, 2024, and the earliest event reported is dated April 2, 2024.
What is Kinetik Holdings Inc.'s Standard Industrial Classification (SIC) code?
Kinetik Holdings Inc.'s SIC code is 4922, which corresponds to NATURAL GAS TRANSMISSION.
What were Kinetik Holdings Inc.'s former company names?
Kinetik Holdings Inc. was formerly known as Altus Midstream Co (name change date: 20181113) and Kayne Anderson Acquisition Corp (name change date: 20161220).
Filing Stats: 1,664 words · 7 min read · ~6 pages · Grade level 12.8 · Accepted 2024-04-05 18:01:13
Key Financial Figures
- $0.0001 — tered Class A Common Stock, par value $0.0001 per share KNTK New York Stock Exchange
- $150 million — the aggregate principal amount of up to $150 million (the " A/R Facility ") to provide addit
Filing Documents
- apa-20240402.htm (8-K) — 43KB
- pnc_kinetik-rpaxredactedx.htm (EX-10.1) — 1285KB
- pnc_kinetik-saleandcontrib.htm (EX-10.2) — 396KB
- arsecuritization-4324vfina.htm (EX-99.1) — 9KB
- ordemannboardappointment-4.htm (EX-99.2) — 8KB
- apa-20240402_g1.jpg (GRAPHIC) — 7KB
- image_0.jpg (GRAPHIC) — 5KB
- image_0b.jpg (GRAPHIC) — 5KB
- 0001692787-24-000020.txt ( ) — 2171KB
- apa-20240402.xsd (EX-101.SCH) — 2KB
- apa-20240402_lab.xml (EX-101.LAB) — 20KB
- apa-20240402_pre.xml (EX-101.PRE) — 11KB
- apa-20240402_htm.xml (XML) — 2KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On April 4, 2024, the Company issued a press release announcing Mr. Ordemann's appointment to the Board. On April 3, 2024, the Company issued a press release announcing the entry of the A/R facility. Copies of the Company's press releases are attached hereto and furnished as Exhibits 99.1 and 99.2 and are incorporated in this report by reference. The information provided in this Item 7.01, including the accompanying Exhibits 99.1 and 99.2, shall be deemed "furnished" and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of such section, nor shall it be incorporated by reference in any filing made by the Company pursuant to the Securities Act of 1933, as amended, or the Exchange Act, regardless of the general incorporation language of such filing, except to the extent that such filing incorporates by reference any or all of such information by express reference thereto. 3
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Receivables Purchase Agreement, dated as of April 2, 2024, by and among Kinetik Receivables LLC, as the seller, Kinetik Holdings LP, a subsidiary of Kinetik Holdings Inc., as the servicer, PNC Bank, National Association, as administrative agent, PNC Capital Markets LLC, as structuring agent, and the purchasers party thereto. 10.2 Sale and Contribution Agreement, dated as of April 2, 2024, by and among Kinetik Holdings LP, a subsidiary of Kinetik Holdings Inc., Kinetik Receivables LLC and the originators party thereto. 99.1 Press Release, dated April 3, 2024, issued by Kinetik Holdings Inc. (furnished solely for purposes of Item 7.01 of this Form 8-K). 99.2 Press Release, dated April 4, 2024, issued by Kinetik Holdings Inc. (furnished solely for purposes of Item 7.01 of this Form 8-K). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) Certain schedules and similar attachments to this exhibit have been omitted pursuant to Item 601(a)(5) and/or Item 601(b)(10)(iv), as applicable, of Regulation S-K. The Company agrees to furnish an unredacted, supplemental copy (including any omitted schedule or attachment) to the SEC upon request. Redactions and omissions are designated with brackets containing asterisks. 4 SIGNATURE 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. Date: April 5, 2024 KINETIK HOLDINGS INC. By: /s/ Todd Carpenter Name: Todd Carpenter Title: General Counsel, Assistant Secretary and Chief Compliance Officer 5