Evolve Transition Infrastructure LP: Nasdaq/NYSE listing notice — NYSE American commences delisting proceedings for SNMP; Framework Agreement with HOBO terminated

Evolve Transition Infrastructure LP

NYSE American began delisting proceedings under Section 1003(f)(v) due to sustained low selling price; trading suspended but units will trade OTC.
SNMP intends to appeal the delisting determination to a committee of the NYSE American Board of Directors.
Board terminated Framework Agreement with HOBO Renewable Diesel; no penalties incurred; ends option to fund renewable fuels facilities.
Previously announced 1-for-30 reverse split effective June 13, 2023, aimed at addressing low unit price.
Former HOBO executives (Gibbs, Keuss, Hartigan) were removed from management by March 2023; Charles C. Ward serves as Interim CEO, CFO and Secretary.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Evolve Transition Infrastructure LP received a nyse_american delisting notice notice regarding minimum bid price (rules 1003(f)(v)).

Exchange: nyse american
Notice: delisting notice
Deficiency: minimum bid price
Rules: 1003(f)(v)

Exact text from the filing

June 6, 2023, the Partnership received notice (the “Delisting Notice”) from the NYSE informing the Partnership that NYSE Regulation has determined that the Partnership is no longer suitable for listing pursuant to Section 1003(f)(v) of the Company Guide due to the low selling price of the Common Units. The Delisting Notice also provides that NYSE Regulation has determined to commence proceedings to delist the Common Units from the NYSE due to the low selling price of the Common Units. NYSE delisting procedures provide the Partnership with the right to a review of this determination by a commit

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Evolve Transition Infrastructure LP terminated Framework Agreement with HOBO Renewable Diesel LLC (effective 2023-06-06).

Action: termination
Counterparty: HOBO Renewable Diesel LLC
Effective: 2023-06-06

Exact text from the filing

As previously disclosed, on November 3, 2021, Evolve Transition Infrastructure LP (the “Partnership”) entered into a Framework Agreement with HOBO Renewable Diesel LLC (“HOBO”), and on February 17, 2023, the Partnership entered into the First Amendment to the Framework Agreement (as amended, the “Framework Agreement”).

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Source: SEC EDGAR

accession 0001362705-23-000071

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