{"schema_version":"secwatch.filing_event.v1","accession":"0002024218-25-000025","form_type":"8-K","ticker":"SMC","cik":"0002024218","company_name":"Summit Midstream Corp","filed_at":"2025-03-14T23:59:59+00:00","discovered_at":"2026-05-14T18:03:05.815942+00:00","generated_at":"2026-05-24T18:58:54.941160+00:00","sec_items":["1.01","2.01","3.02","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Summit Midstream acquires Moonrise Midstream for $90M, adding DJ Basin capacity","bullets":["Total consideration $90M: $70M cash (credit facility) + ~462k SMC shares ($20M equity).","Moonrise assets: 65 MMcf/d processing plant, ~80 miles gas gathering, ~25 miles crude oil pipeline, 22,300 hp compression.","Acquisition multiple ~5.0x 2024 Adj. EBITDA; cash portion ~3.9x, leverage-neutral.","Three rigs active in DJ Basin; customers have multi-year development plans starting 2026; Moonrise adds processing to alleviate constraints.","Registration rights: 3-month lock-up, then daily trading caps of 10k then 12k shares; piggyback rights included."],"urls":{"canonical":"https://secwatch.observer/filing/0002024218-25-000025","json":"https://secwatch.observer/filing/0002024218-25-000025.json","markdown":"https://secwatch.observer/filing/0002024218-25-000025.md","text":"https://secwatch.observer/filing/0002024218-25-000025.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/2024218/000202421825000025/0002024218-25-000025-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/2024218/000202421825000025/smc-20250310.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-24T18:58:54.941160+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"8cb5bfd611abd98ad0887151de9eef6515a93bae","claim":"Summit Midstream Corp completed an acquisition involving Fundare Resources Company HoldCo, LLC for $90,000,000 (closed 2025-03-10).","evidence_excerpt":"equity interests of Moonrise Midstream, LLC, a Delaware limited liability company (the “Acquired Company”), from the Seller, in exchange for aggregate consideration equal to $90,000,000, which consideration consisted of (i) $70,000,000 in cash consideration, subject to certain customary purchase price adjustments set forth in the Purchase Agreement, and (ii)","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/2024218/000202421825000025/0002024218-25-000025-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"Fundare Resources Company HoldCo, LLC"},{"label":"Consideration","value":"$90,000,000"},{"label":"Closing","value":"2025-03-10"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}