ALLIANCE RESOURCE PARTNERS, L.P. (NASDAQ:ARLP) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On December 14, 2018, Alliance Resource Partners, L.P., a Delaware limited partnership (“ARLP”); AllDale Minerals, L.P., a Texas limited partnership (“AllDale I”); AllDale Minerals II, L.P., a Texas limited partnership (“AllDale II”); AllDale Minerals Management, LLC, a Texas limited liability company; and AllDale Minerals Management II, LLC, a Texas limited liability company, entered into a series of subscription agreements (“Agreements”), to which ARLP will acquire the general partner interests in AllDale I and AllDale II and all of the limited partner interests in AllDale I and AllDale II not currently owned by ARLP’s affiliate, Cavalier Minerals JV, LLC (“Cavalier”) (collectively the “Partnership Interests”). ARLP will acquire the Partnership Interests for a cash purchase price of $175.96 million, which will be funded with cash on hand and borrowings under its credit facility. Subject to customary closing conditions, the parties expect to close the transactions in early January 2019.
ARLP currently owns 96.0% of the outstanding membership interests in Cavalier, which owns approximately 72.0% of the limited partner interest in both AllDale I and AllDale II.
ITEM 7.01.REGULATION FD DISCLOSURE.
On December 17, 2018, ARLP issued a press release announcing entry into the Agreements. ARLP also announced via the press release that it has begun development of the Excel Mine No. 5, an extension of its MC Mining operation in Pike County, Kentucky.A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information furnished in this Item 7.01, including Exhibit 99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section nor shall such information be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except to the extent specifically referenced in any such filings.
ITEM 9.01.FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
ALLIANCE RESOURCE PARTNERS LP Exhibit
EX-99.1 2 ex-99d1.htm EX-99.1 arlp_Ex99_1_AllDale_Announcement Exhibit 99.1 PRESS RELEASE CONTACT: Brian L. Cantrell Alliance Resource Partners,…
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About ALLIANCE RESOURCE PARTNERS, L.P. (NASDAQ:ARLP)
Alliance Resource Partners, L.P. is a producer and marketer of coal primarily to the United States utilities and industrial users. The Company operates through segments, including Illinois Basin, Appalachia, and Other and Corporate. It operates over 10 underground mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia. The Illinois Basin segment consists of various operating segments, including Webster County Coal’s Dotiki mining complex, Gibson County Coal’s mining complex, which includes the Gibson North mine and Gibson South mine, Hopkins County Coal’s mining complex, which includes the Elk Creek mine and the Fies property, White County Coal’s Pattiki mining complex, Warrior’s mining complex, Sebree Mining’s mining complex, which includes the Onton mine and River View’s mining complex. The Appalachia segment consists of multiple operating segments, including the Mettiki mining complex, the Tunnel Ridge mining complex and the MC Mining mining complex.