Infinity Natural Resources (INR) insiders detail common and convertible preferred stake
Filing Impact
Filing Sentiment
Form Type
3/A
Rhea-AI Filing Summary
Etineles Holdings V, LLC and affiliated Carnelian entities report their ownership stake in Infinity Natural Resources through common and convertible preferred shares. Etineles directly holds 1,734 shares of Class A Common Stock and 75,000 shares of Series A Convertible Preferred Stock at an Initial Liquidation Preference of $1,000 per share. The Series A Preferred is convertible at the holder’s option into Class A Common Stock at a conversion price of $21.39 per share, representing 3,506,311 underlying common shares upon full conversion. The filing notes that various Carnelian-related entities and Tomas Ackerman and Daniel Goodman may be deemed beneficial owners of the shares held by Etineles but each disclaims beneficial ownership except to the extent of any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Etineles Holdings V, LLC, CEC Selenite III Holdings, LLC, CARNELIAN ENERGY CAPITAL V, L.P., Carnelian Energy Capital GP V, L.P., CARNELIAN ENERGY CAPITAL HOLDINGS, LLC, Ackerman Tomas, Goodman Daniel
Role
null | null | null | null | null | null | null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Series A Convertible Preferred Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Series A Convertible Preferred Stock — 3,506,311 shares (Direct, null);
Class A Common Stock — 1,734 shares (Direct, null)
Footnotes (1)
- Class A Common Stock was acquired by Etineles Holdings V, LLC on November 12, 2025. On February 23, 2026, Etineles Holdings V, LLC acquired 75,000 shares of Series A Convertible Preferred Stock, par value $0.01 per share (the "Series A Preferred Stock") at a price of $1,000 per share ("Initial Liquidation Preference). Pursuant to the Certificate of Designation (as defined below), each share of Series A Preferred Stock is convertible at the option of the holder into shares of Class A Common Stock using a conversion ratio equal to the then-applicable liquidation preference (as determined in accordance with the Certificate of Designation and which equals the Initial Liquidation Preference per share as of the date hereof) divided by a conversion price of $21.39 per share (subject to customary adjustments in accordance with the Certificate of Designation), which would result in 3,506,311 shares of Class A Common Stock upon full conversion. The Series A Preferred Stock has no expiration date and is convertible at any time at the option of the holder. Etineles Holdings V, LLC is the record holder of the shares reported herein. Tomas Ackerman and Daniel Goodman are managing members of Carnelian Energy Capital Holdings, LLC, which is the general partner of Carnelian Energy Capital GP V, L.P. Carnelian Energy Capital GP V, L.P. is the general partner of Carnelian Energy Capital V, L.P. Carnelian Energy Capital V, L.P. is the sole member of CEC Selenite III Holdings, LLC, which is the sole member of Etineles Holdings V, LLC. Each of Etineles Holdings V, LLC, CEC Selenite III Holdings, LLC, Carnelian Energy Capital V, L.P., Carnelian Energy Capital GP V, L.P., Carnelian Energy Capital Holdings, LLC, and Messrs. Ackerman and Goodman may be deemed to have or share beneficial ownership of the ordinary shares held directly by Etineles Holdings V, LLC. Each such entity or person disclaims any such beneficial ownership of such securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
Key Figures
Direct Class A Common holdings: 1,734 shares
Series A Preferred shares: 75,000 shares
Initial Liquidation Preference: $1,000 per share
+3 more
6 metrics
Direct Class A Common holdings
1,734 shares
Class A Common Stock held directly by Etineles Holdings V, LLC
Series A Preferred shares
75,000 shares
Series A Convertible Preferred Stock acquired on February 23, 2026
Initial Liquidation Preference
$1,000 per share
Stated per-share liquidation preference for Series A Preferred
Conversion price
$21.39 per share
Conversion price used to calculate common shares from Series A Preferred
Underlying common shares on full conversion
3,506,311 shares
Class A Common Stock issuable upon full conversion of Series A Preferred
Reported preferred position
3,506,311.0000
Total shares following transaction entry for Series A Convertible Preferred Stock
Key Terms
Series A Convertible Preferred Stock, Initial Liquidation Preference, conversion price, Certificate of Designation, +1 more
5 terms
Series A Convertible Preferred Stock financial
"Etineles Holdings V, LLC acquired 75,000 shares of Series A Convertible Preferred Stock, par value $0.01 per share"
Series A convertible preferred stock is a class of shares sold in an early funding round that gives investors a mix of protection and upside: it pays a priority claim over common shares if the company is sold or closes, but can be converted into ordinary shares to share in future growth. Think of it like a hybrid between a safer stake and a ticket to ownership; it matters to investors because it affects who controls the company, how future gains are split, and how much their investment is protected from downside.
Initial Liquidation Preference financial
"at a price of $1,000 per share ("Initial Liquidation Preference")"
conversion price financial
"divided by a conversion price of $21.39 per share (subject to customary adjustments"
The conversion price is the fixed price at which a convertible security, like a bond or preferred stock, can be exchanged for shares of common stock. It acts like a set rate that determines how many shares an investor can receive if they choose to convert their investment. This helps investors understand the value and potential benefits of converting their securities into company shares.
Certificate of Designation regulatory
"as determined in accordance with the Certificate of Designation"
A certificate of designation is a formal document that spells out the specific rights and rules attached to a particular class or series of stock, usually preferred shares. Think of it as a rulebook or menu that lists dividend terms, liquidation priority, conversion or redemption rights and any special voting protections; investors use it to judge how much income, control or downside protection those shares will provide compared with other securities.
beneficial ownership financial
"may be deemed to have or share beneficial ownership of the ordinary shares held directly"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
What insider holdings in Infinity Natural Resources (INR) are reported in this Form 3/A?
The filing shows Etineles Holdings V, LLC directly owns 1,734 shares of Class A Common Stock and 75,000 shares of Series A Convertible Preferred Stock. These preferred shares are convertible into 3,506,311 Class A Common shares based on the current conversion price.
What is the conversion price for Infinity Natural Resources (INR) Series A Convertible Preferred Stock?
Each share of Series A Convertible Preferred Stock is currently convertible into Class A Common Stock at a conversion price of $21.39 per share. This price works with the Initial Liquidation Preference to determine how many common shares are received on conversion.
Does the Series A Convertible Preferred Stock of Infinity Natural Resources (INR) have an expiration date?
The filing states the Series A Convertible Preferred Stock has no expiration date and is convertible at any time at the option of the holder. This means conversion into Class A Common Stock can occur whenever the holder chooses, under the stated terms.