secwatch.observer — SEC 8-K summary
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Issuer:     Kimbell Royalty Partners, LP (KRP)
CIK:        0001657788
Form:       8-K
Filed at:   2023-09-14T23:59:59+00:00
Accession:  0001104659-23-100546
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.01, 3.02, 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kimbell Royalty closes $455M Cherry Creek buy, raises $325M via Apollo preferred units
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- Acquired Cherry Creek Minerals for $455M cash; funded via credit facility and Apollo preferred proceeds.
- Issued 325,000 Series A Cumulative Convertible Preferred Units at $1,000/unit for $325M to Apollo affiliates.
- Governance: Apollo gets board observer after 5 yrs, 1 director after 6 yrs, up to 3 directors after 7 yrs or upon default.
- Registration Rights Agreement covers resale of common units from conversion; liquidated damages if registration delayed.
- Transition services with FourPoint Energy at ~$250k/month for 4 months (renewable) for administrative support.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1657788/000110465923100546/0001104659-23-100546-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1657788/000110465923100546/tm2326083d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-100546

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer