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<title>evolve-20230410</title></head><body><div style="display:none"><ix:header><ix:hidden><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:AmendmentFlag" format="ixt:fixed-false" id="f-22">FALSE</ix:nonNumeric><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:EntityCentralIndexKey" id="f-23">0001362705</ix:nonNumeric></ix:hidden><ix:references xml:lang="en-US"><link:schemaRef xlink:type="simple" xlink:href="evolve-20230410.xsd"></link:schemaRef></ix:references><ix:resources><xbrli:context id="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0001362705</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2023-04-10</xbrli:startDate><xbrli:endDate>2023-04-10</xbrli:endDate></xbrli:period></xbrli:context></ix:resources></ix:header></div><div id="ic2f0d2002d72460c8798a3da229d1340_1"></div><div style="min-height:45pt;width:100%"><div><span><br/></span></div></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.030%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #000;border-top:2pt solid #000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">UNITED STATES </span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SECURITIES AND EXCHANGE COMMISSION</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Washington, D.C. 20549</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">FORM <ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:DocumentType" id="f-1">8-K</ix:nonNumeric></span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CURRENT REPORT</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Date of Report (date of earliest event reported): </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:DocumentPeriodEndDate" format="ixt:date-monthname-day-year-en" id="f-2">April 10, 2023</ix:nonNumeric></span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:EntityRegistrantName" id="f-3">Evolve Transition Infrastructure LP</ix:nonNumeric></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Exact name of registrant as specified in its charter)</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 2.38pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:114%"><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:EntityIncorporationStateCountryCode" format="ixt-sec:stateprovnameen" id="f-4">Delaware</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 2.38pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:114%"><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:EntityFileNumber" id="f-5">001-33147</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 2.38pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:114%"><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:EntityTaxIdentificationNumber" id="f-6">11-3742489</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding:2px 2.38pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:114%">(State or other jurisdiction of incorporation)</span></td><td colspan="3" style="padding:2px 2.38pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:114%">(Commission File Number)</span></td><td colspan="3" style="padding:2px 2.38pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:114%">(IRS Employer Identification No.)</span></td></tr></table></div><div><span><br/></span></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:1.38pt;padding-right:1.38pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:114%"><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:EntityAddressAddressLine1" id="f-7">1360 Post Oak Blvd</ix:nonNumeric>, <ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:EntityAddressAddressLine2" id="f-8">Suite 2400</ix:nonNumeric></span></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:1.38pt;padding-right:1.38pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:114%"><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:EntityAddressCityOrTown" id="f-9">Houston</ix:nonNumeric>, <ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:EntityAddressStateOrProvince" id="f-10">TX</ix:nonNumeric></span></div></td><td colspan="3" style="padding:2px 2.38pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:114%"><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:EntityAddressPostalZipCode" id="f-11">77056</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding:2px 2.38pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:114%">(Address of principal executive offices)</span></td><td colspan="3" style="padding:2px 2.38pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:114%">(Zip Code)</span></td></tr></table></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Registrant&#8217;s telephone number, including area code: </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(<ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:CityAreaCode" id="f-12">713</ix:nonNumeric>) <ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:LocalPhoneNumber" id="f-13">783-8000</ix:nonNumeric></span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Former name or former address, if changed since last report.)</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:0.1%"></td><td style="width:2.678%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:96.022%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:WrittenCommunications" format="ixt-sec:boolballotbox" id="f-14">&#9744;</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</span></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:0.1%"></td><td style="width:2.678%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:96.022%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:SolicitingMaterial" format="ixt-sec:boolballotbox" id="f-15">&#9744;</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</span></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:0.1%"></td><td style="width:2.678%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:96.022%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:PreCommencementTenderOffer" format="ixt-sec:boolballotbox" id="f-16">&#9744;</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</span></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:0.1%"></td><td style="width:2.678%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:96.022%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:PreCommencementIssuerTenderOffer" format="ixt-sec:boolballotbox" id="f-17">&#9744;</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</span></td></tr></table></div><div><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Securities registered pursuant to Section 12(b) of the Act:</span></div><div style="text-align:center"><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:40.869%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.051%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:36.780%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 4.6pt;text-align:center;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:114%">Title of each class</span></td><td colspan="3" style="padding:2px 4.6pt;text-align:center;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:114%">Trading Symbol(s)</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:114%">Name of each exchange on which registered</span></td></tr><tr><td colspan="3" style="border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:114%"><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:Security12bTitle" id="f-18">Common Units representing limited partner interests</ix:nonNumeric></span></td><td colspan="3" style="border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:114%"><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:TradingSymbol" id="f-19">SNMP</ix:nonNumeric></span></td><td colspan="3" style="border-top:0.75pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:114%"><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" id="f-20">NYSE American</ix:nonNumeric></span></td></tr></table></div><div><span><br/></span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Emerging growth company </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="id646ba11873b4689b53cd623b9d12d1d_D20230410-20230410" name="dei:EntityEmergingGrowthCompany" format="ixt-sec:boolballotbox" id="f-21">&#9744;</ix:nonNumeric></span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9744;</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.030%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:2pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td></tr></table></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><div id="ic2f0d2002d72460c8798a3da229d1340_7"></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div><span><br/></span></div></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Item 1.01  Entry Into a Materially Definitive Agreement.</span></div><div style="margin-bottom:12pt;margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On April 10, 2023, Evolve Transition Infrastructure LP (the &#8220;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Partnership</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8221;), as borrower, entered into that certain Thirteenth Amendment to Third Amended and Restated Credit Agreement with the guarantors party thereto (&#8220;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Guarantors</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8221;), each of the lenders party thereto (each, a &#8220;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Lender</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8221;), and Royal Bank of Canada (&#8220;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">RBC</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8221;), as administrative agent, collateral agent, and letter of credit issuer (the &#8220;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Thirteenth Amendment</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">,&#8221; the Third Amended and Restated Credit Agreement, as amended prior to the effectiveness of the Thirteenth Amendment, the &#8220;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Existing Credit Agreement</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">,&#8221; and, the Existing Credit Agreement, as amended by the Thirteenth Amendment, the &#8220;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Amended Credit Agreement</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8221;). </span></div><div style="margin-bottom:12pt;margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The terms of the Amended Credit Agreement provide for, among other things: (a) reduction of the term loan facility from an aggregate principal amount of $65 million to an aggregate principal amount of up to $20 million, (b) extension of the maturity date to September 30, 2025, (c) removal of the requirement to prepay Term Loans (as defined in the Amended Credit Agreement) in the event cash or cash equivalents is in excess of $3,500,000, as well as the removal of related cash balance reporting requirements; provided that the Partnership cannot have cash or cash equivalents in excess of $3,500,000 at, or immediately after giving effect to, any Borrowing or any issuance, amendment, renewal or extension of any Letter of Credit (as each term is defined in the Amended Credit Agreement), (d) reduction and modification of the Partnership&#8217;s mandatory amortizing payments of outstanding principal of Term Loans from $2,000,000 per quarter to a single annual amortizing payment of $2,500,000 on each of December 31, 2023, December 31, 2024 and June 30, 2025, (e) the ability to apply proceeds from asset dispositions having a fair market value in excess of $1 million to either prepay Term Loans or, subject to compliance with certain notice provisions, utilize such proceeds for capital redeployment, including Investments (as defined in the Amended Credit Agreement), (f) adoption of SOFR (as defined in the Amended Credit Agreement) as the Benchmark (as defined in the Amended Credit Agreement), (g) removal of the requirement to post Additional Credit Support (as defined in the Existing Credit Agreement) and the return of all Additional Credit Support held by or on behalf of the administrative agent or the collateral agent, as applicable, within five business days of the effective date of the Amended Credit Agreement, (h) changes to the calculation of Adjusted EBITDA (as defined in the Amended Credit Agreement) for the most recent four fiscal quarter period, starting as of January 1, 2023, with annualization adjustments and a 10% capped addback to Adjusted EBITDA for (x) certain restructuring costs, charges or reserves and (y) transaction expenses incurred in connection with potential acquisitions and sales, and (i) permitted Investments (as defined in the Amended Credit Agreement) with the proceeds of 50% of quarterly consolidated net income, net cash proceeds of equity issuances, cash capital contributions made to the Partnership and certain asset dispositions , subject to leverage compliance, absence of an Event of Default (as defined in the Amended Credit Agreement) and at least ten percent (10%) unused availability of the Maximum Revolving Credit Amounts (as defined in the Amended Credit Agreement) remaining after giving effect to such Investment.</span></div><div style="margin-bottom:12pt;margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The foregoing description of the Thirteenth Amendment does not purport to be complete and is qualified in its entirety by the full text of the Thirteenth Amendment, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.</span></div><div id="ic2f0d2002d72460c8798a3da229d1340_549755813951"></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Item 2.03  Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</span></div><div style="margin-bottom:12pt;margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">A description of the Thirteenth Amendment is included in Item 1.01 above and incorporated herein by reference. </span></div><div id="ic2f0d2002d72460c8798a3da229d1340_10"></div><div style="-sec-extract:summary;margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Item 9.01  Financial Statements and Exhibits.</span></div><div style="margin-bottom:12pt;margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">(d)           Exhibits.</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:10.566%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:87.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:justify;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:114%">Exhibit No.</span></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:justify;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:114%">Exhibit</span></td></tr><tr><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:justify;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:114%">10.1</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="evolvetransition-13thamend.htm">Thirteenth Amendment to Third Amended and Restated Credit Agreement, dated as of April 10, 2023, between Evolve Transition Infrastructure LP, the guarantors party thereto, the lenders party thereto and Royal Bank of Canada, as administrative agent, collateral agent and letter of credit issuer.</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:justify;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:114%">104</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:114%">Cover Page Interactive Data File (formatted as Inline XBRL).</span></td></tr></table></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><div id="ic2f0d2002d72460c8798a3da229d1340_13"></div><hr style="page-break-after:always"/><div style="min-height:45pt;width:100%"><div><span><br/></span></div></div><div style="-sec-extract:summary;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SIGNATURES</span></div><div style="padding-left:18pt;padding-right:18pt;text-align:center"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</span></div><div style="text-indent:36pt"><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.596%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.051%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:44.053%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:114%">EVOLVE TRANSITION INFRASTRUCTURE LP</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">By: </span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Evolve Transition Infrastructure GP LLC,<br/>its general partner</span></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:114%">Date: April 12, 2023</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:114%">By:</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:114%">/s/ Charles C. Ward</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.75pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:114%">Charles C. Ward</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:114%">Interim Chief Executive Officer, Chief Financial Officer and Secretary</span></td></tr></table></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div></body></html>
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evolve-20230410
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
April 10, 2023
Evolve Transition Infrastructure LP
(Exact name of registrant as specified in its charter)
Delaware
001-33147
11-3742489
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
1360 Post Oak Blvd
,
Suite 2400
Houston
,
TX
77056
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
(
713
)
783-8000
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Units representing limited partner interests
SNMP
NYSE American
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Item 1.01  Entry Into a Materially Definitive Agreement.
On April 10, 2023, Evolve Transition Infrastructure LP (the "
Partnership
"), as borrower, entered into that certain Thirteenth Amendment to Third Amended and Restated Credit Agreement with the guarantors party thereto ("
Guarantors
"), each of the lenders party thereto (each, a "
Lender
"), and Royal Bank of Canada ("
RBC
"), as administrative agent, collateral agent, and letter of credit issuer (the "
Thirteenth Amendment
," the Third Amended and Restated Credit Agreement, as amended prior to the effectiveness of the Thirteenth Amendment, the "
Existing Credit Agreement
," and, the Existing Credit Agreement, as amended by the Thirteenth Amendment, the "
Amended Credit Agreement
").
The terms of the Amended Credit Agreement provide for, among other things: (a) reduction of the term loan facility from an aggregate principal amount of $65 million to an aggregate principal amount of up to $20 million, (b) extension of the maturity date to September 30, 2025, (c) removal of the requirement to prepay Term Loans (as defined in the Amended Credit Agreement) in the event cash or cash equivalents is in excess of $3,500,000, as well as the removal of related cash balance reporting requirements; provided that the Partnership cannot have cash or cash equivalents in excess of $3,500,000 at, or immediately after giving effect to, any Borrowing or any issuance, amendment, renewal or extension of any Letter of Credit (as each term is defined in the Amended Credit Agreement), (d) reduction and modification of the Partnership's mandatory amortizing payments of outstanding principal of Term Loans from $2,000,000 per quarter to a single annual amortizing payment of $2,500,000 on each of December 31, 2023, December 31, 2024 and June 30, 2025, (e) the ability to apply proceeds from asset dispositions having a fair market value in excess of $1 million to either prepay Term Loans or, subject to compliance with certain notice provisions, utilize such proceeds for capital redeployment, including Investments (as defined in the Amended Credit Agreement), (f) adoption of SOFR (as defined in the Amended Credit Agreement) as the Benchmark (as defined in the Amended Credit Agreement), (g) removal of the requirement to post Additional Credit Support (as defined in the Existing Credit Agreement) and the return of all Additional Credit Support held by or on behalf of the administrative agent or the collateral agent, as applicable, within five business days of the effective date of the Amended Credit Agreement, (h) changes to the calculation of Adjusted EBITDA (as defined in the Amended Credit Agreement) for the most recent four fiscal quarter period, starting as of January 1, 2023, with annualization adjustments and a 10% capped addback to Adjusted EBITDA for (x) certain restructuring costs, charges or reserves and (y) transaction expenses incurred in connection with potential acquisitions and sales, and (i) permitted Investments (as defined in the Amended Credit Agreement) with the proceeds of 50% of quarterly consolidated net income, net cash proceeds of equity issuances, cash capital contributions made to the Partnership and certain asset dispositions , subject to leverage compliance, absence of an Event of Default (as defined in the Amended Credit Agreement) and at least ten percent (10%) unused availability of the Maximum Revolving Credit Amounts (as defined in the Amended Credit Agreement) remaining after giving effect to such Investment.
The foregoing description of the Thirteenth Amendment does not purport to be complete and is qualified in its entirety by the full text of the Thirteenth Amendment, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
Item 2.03  Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
A description of the Thirteenth Amendment is included in Item 1.01 above and incorporated herein by reference.
Item 9.01  Financial Statements and Exhibits.
(d)           Exhibits.
Exhibit No.
Exhibit
10.1
Thirteenth Amendment to Third Amended and Restated Credit Agreement, dated as of April 10, 2023, between Evolve Transition Infrastructure LP, the guarantors party thereto, the lenders party thereto and Royal Bank of Canada, as administrative agent, collateral agent and letter of credit issuer.
104
Cover Page Interactive Data File (formatted as Inline XBRL).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
EVOLVE TRANSITION INFRASTRUCTURE LP
By:
Evolve Transition Infrastructure GP LLC,
its general partner
Date: April 12, 2023
By:
/s/ Charles C. Ward
Charles C. Ward
Interim Chief Executive Officer, Chief Financial Officer and Secretary