Evolve Transition Infrastructure exercises right to purchase common units

Evolve Transition announced that Evolve Transition Infrastructure GP, the general partner of the partnership, has elected to exercise the right to purchase all of the issued and outstanding common units representing limited partner interests in the partnership not already owned by the General Partner or its controlled affiliates pursuant to Section 15.1 of the partnership’s third amended and restated agreement of limited partnership, as amended. The general partner will purchase the transaction units on February 16 for a cash purchase price of $1.389285 per transaction unit. The purchase price was calculated pursuant to the formula set forth in Section 15.1 of the limited partnership agreement based on the average of the daily closing prices per common unit on the NYSE American for the 20 consecutive trading days ending on January 4, the trading day immediately prior to the third day prior to January 8, the date the notice of election is being mailed. As of the purchase date, all rights of the holders of the transaction units will cease, except for the right to receive payment of the purchase price. Upon completion of the purchase on the purchase date, the general partner and its affiliates will own, directly or indirectly, 100% of the common units. In addition, upon completion of the purchase, the Common Units will cease to be publicly traded or listed on the NYSE American, and will not be listed or quoted on any other venue.