OPAL Fuels issues 49,633 shares to Encompass Capital to correct warrant exchange shortfall

OPAL Fuels Inc.

Issued 49,633 unregistered Class A common shares to Encompass Capital Advisors as consideration for prior warrant tender agreement.
Shares make up difference between 0.250 and 0.225 exchange ratios due to mailing error in Dec 2022 warrant exchange.
Securities issued under Section 4(a)(2) and Rule 506; not registered under Securities Act.
Encompass Capital originally held 1,985,236 warrants; received 446,676 shares instead of 496,309.

Key facts

Extracted from this filing and checked against the source text.

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

OPAL Fuels Inc. entered into Purchase Agreement with certain accredited entities and managed accounts for which Encompass Capital Advisors LLC exercises investment discretion (effective 2023-03-30).

Action: entry
Agreement: equity purchase
Counterparty: certain accredited entities and managed accounts for which Encompass Capital Advisors LLC exercises investment discretion
Effective: 2023-03-30

Exact text from the filing

On March 30, 2023, OPAL Fuels Inc. (the “ Company ”) issued an aggregate of 49,633 shares of Class A common stock, par value $0.0001 per share (the “ Class A Common Stock ”), to certain accredited entities and managed accounts for which Encompass Capital Advisors LLC exercises investment discretion (the “ Investors ”) pursuant to a securities purchase agreement (the “ Purchase Agreement ”) with the Investors (the “ Offering ”).

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OPAL Fuels Inc. filing history →

Source: SEC EDGAR

accession 0001842279-23-000011

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