FTAI Infrastructure acquires remaining 49.9% of Long Ridge Energy for $9M cash, $20M note, and Series B Preferred

FTAI Infrastructure Inc.

Acquired 100% of LIF Holdings, owner of 49.9% of Long Ridge Energy & Power LLC, from GCM Grosvenor affiliates.
Consideration: $9M cash, $20M promissory note from LRE&P, and 160,000 Series B Convertible Preferred shares (9%/10% dividend).
Issued 550,000 Series A Warrants (exercise price $10/share) to Ares as consent fee for Series A Preferred amendment.
Board increased to 5; appointed Matthew Rinklin (GCM Managing Director) as Class II director.
Series A Preferred terms amended to permit acquisition and allow $0.03 quarterly common dividend with catch-up provisions.

item 1.01 item 2.01 item 3.02 item 5.02 item 5.03 item 9.01

Executive movements

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Appointed

Matthew Rinklin

Class II Director

FIP · FTAI Infrastructure Inc.

Effective: 2025-02-26
Filed: February 27, 2025, 6:59 PM ET

On February 26, 2025, the Board approved an increase in the size of the Board from four to five directors, and appointed Matthew Rinklin, the GCM Designee under the Investor Rights Agreement, as a Class II director.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Matthew Rinklin was appointed as Class II Director at FTAI Infrastructure Inc..

Action: appointed
Role: Class II Director

Exact text from the filing

On February 26, 2025, the Board approved an increase in the size of the Board from four to five directors, and appointed Matthew Rinklin, the GCM Designee under the Investor Rights Agreement, as a Class II director.

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FTAI Infrastructure Inc. filing history →

Source: SEC EDGAR

accession 0001140361-25-006134

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