---
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"
generated_at: "2026-05-24T18:58:54.941160+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Summit Midstream acquires Moonrise Midstream for $90M, adding DJ Basin capacity

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 3.02, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0002024218-25-000025
- JSON: https://secwatch.observer/filing/0002024218-25-000025.json
- Plain text: https://secwatch.observer/filing/0002024218-25-000025.txt

## Key facts
- M&A Transactions
  Summit Midstream Corp completed an acquisition involving Fundare Resources Company HoldCo, LLC for $90,000,000 (closed 2025-03-10).
  - Action: acquisition
  - Counterparty: Fundare Resources Company HoldCo, LLC
  - Consideration: $90,000,000
  - Closing: 2025-03-10
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/2024218/000202421825000025/0002024218-25-000025-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.