Westerman Interests, Inc. (NYSE: USAC) reports 18.2M unit stake
Rhea-AI Filing Summary
Westerman Interests, Inc. filed an initial ownership report as a 10% owner of USA Compression Partners, LP. The filing shows indirect beneficial ownership of 18,175,323 Common Units representing limited partner interests, held of record by Westerman, Ltd., for which Westerman Interests, Inc. serves as sole general partner with power to direct voting and disposition. The units were received by Westerman, Ltd. as part of consideration under a stock purchase agreement where a subsidiary of USA Compression Partners agreed to acquire all outstanding capital stock of J-W Energy Company for an aggregate purchase price of approximately $860.0 million, consisting of $430.0 million in cash and Common Units valued at approximately $430.0 million. The acquisition closed on January 12, 2025, and Westerman Interests, Inc. disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest.
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FAQ
What does the USAC Form 3 filed by Westerman Interests, Inc. report?
The Form 3 reports that Westerman Interests, Inc. is a 10% owner of USA Compression Partners, LP (USAC) and indirectly holds 18,175,323 Common Units representing limited partner interests through Westerman, Ltd.
How many USA Compression Partners (USAC) units are reported as beneficially owned?
The filing shows indirect beneficial ownership of 18,175,323 Common Units of USA Compression Partners, LP, with the units held of record by Westerman, Ltd..
Is the USAC ownership held directly by Westerman Interests, Inc.?
No. The Common Units are held of record by Westerman, Ltd.. Westerman Interests, Inc., as the sole general partner of Westerman, Ltd., may be deemed to beneficially own the units by virtue of its power to direct voting and disposition, and it disclaims beneficial ownership except to the extent of its pecuniary interest.
How did Westerman, Ltd. obtain its USA Compression Partners (USAC) units?
Westerman, Ltd. received the Common Units as part of consideration under a Stock Purchase Agreement in which a subsidiary of USA Compression Partners agreed to purchase all outstanding capital stock of J-W Energy Company for approximately $860.0 million, consisting of $430.0 million in cash and Common Units valued at approximately $430.0 million.
When did the acquisition related to the USAC units close?
The acquisition of the capital stock of J-W Energy Company by a subsidiary of USA Compression Partners, for which part of the consideration was Common Units, closed on January 12, 2025.
What type of SEC filing is this for USA Compression Partners (USAC)?
This is a Form 3, which is an initial statement of beneficial ownership filed by a person or entity that becomes a director, officer, or 10% owner of a registered class of an issuer's equity securities.