Cypress Energy Partners, L.P. (NYSE:CELP) Files An 8-K Other Events
Item 8.01 Other Events

Conversion of Subordinated Units

The board of directors of the general partner of Cypress Energy Partners, L.P. (the “Partnership”) has confirmed that, as of February 14, 2017 (the first business day following the payment of the Partnership’s 2016 fourth quarter cash distribution), the subordination period with respect to the Partnership’s subordinated units representing limited partner interests in the Partnership (the “subordinated units”) ended in accordance with the First Amended and Restated Agreement of Limited Partnership of the Partnership, dated January 21, 2014 (the “partnership agreement”). Accordingly, effective February 14, 2017, the Partnership’s 5,913,000 subordinated units have converted on a one-for-one basis into common units representing limited partner interests in the Partnership (the “common units”). In the future, the common units resulting from this conversion will participate pro rata with the Partnership’s other common units in distributions of available cash as defined in the partnership agreement.

The subordinated units were issued by the Partnership in connection with its initial public offering in January 2014. The conversion of the subordinated units described in this current report does not impact the amount of cash distributions to be paid by the Partnership or the total number of the Partnership’s outstanding units.

About Cypress Energy Partners, L.P. (NYSE:CELP)

Cypress Energy Partners, L.P. is a limited partnership company, which serves energy companies throughout North America. The Company provides independent pipeline inspection and integrity services to producers and pipeline companies and water and environmental services with salt water disposal (SWD) facilities to the United States onshore oil and natural gas producers and trucking companies. It operates through three segments: Pipeline Inspection Services (PIS), which provides independent inspection services to various energy, public utility and pipeline companies in both the United States and Canada; Integrity Services (IS), which provides hydrostatic testing services to natural gas and petroleum companies and pipeline construction companies of newly constructed and existing natural gas and petroleum pipelines, and Water and Environmental Services (W&ES), which provides SWD services to oil and natural gas producers and trucking companies.

Cypress Energy Partners, L.P. (NYSE:CELP) Recent Trading Information

Cypress Energy Partners, L.P. (NYSE:CELP) closed its last trading session down -0.11 at 12.79 with 30,248 shares trading hands.