FTAI Infrastructure acquires remaining 49.9% of Long Ridge Energy; LREP posts $60.4M net loss in 2024

FTAI Infrastructure Inc.

Total consideration: $20M promissory note, $9M cash, and 160,000 shares of Series B Convertible Preferred Stock to GCM Grosvenor affiliates.
FIP issued its manager an option to purchase 2,852,049 shares at $5.61/share, vesting 1/30 monthly over 30 months.
LREP 2024 audited results: net loss $60.4M, total revenues $110.2M, total assets $936.2M, members' deficit $263.5M.
LREP operates a 485 MW gas plant and 24 natural gas wells; goodwill of $86.5M recorded on acquisition.
Pro forma combined financials filed, showing full consolidation of LREP after the February 26, 2025 closing.

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