SEC Form 4 · accession 0001140361-16-064507
Southcross Energy Partners, L.P. · SXE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Jason H Downie
10% Owner
Edward Herring
10% Owner
Tailwater Capital LLC
10% Owner
TW GP EF-1, LP
10% Owner
TAILWATER ENERGY FUND I, LP
10% Owner
TW/LM GP Sub, LLC
10% Owner
TW GP EF-1 GP, LLC
10% Owner
Tailwater Holdings, LP
10% Owner
TW GP Holdings, LLC
10% Owner
TW Southcross Aggregator LP
10% Owner
Period of report
May 9, 2016
Accepted (ET)
May 11, 2016 · 2:22 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001547638
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Class B Convertible UnitsF2,F1 | — | May 9, 2016 | J | 563,494 | A | — | — | Common Units (Limited Partnership Interests) | — | 16,522,484 | I |
Explanation of responses
- F1The Class B Convertible Units were acquired by Southcross Holdings Borrower LP ("Borrower") as a payment-in-kind distribution on outstanding Class B Convertible Units pursuant to the Issuer's Third Amended and Restated Agreement of Limited Partnership dated August 4, 2014 (the "Partnership Agreement"). The Class B Convertible Units convert into Common Units at the Class B Conversion Rate (as defined in the Partnership Agreement) on the Class B Conversion Date (as defined in the Partnership Agreement).
- F2On May 9, 2016, the Issuer issued to Borrower a total of 563,494 Class B Convertible Units consisting of the 279,303 Class B Convertible Units that were to have been issued on February 14, 2016 (and which supersede the previously reported Unpaid Class B PIK Rights) and an additional 284,191 Class B Convertible Units as a payment-in-kind distribution on outstanding Class B Convertible Units (including the Unpaid Class B PIK Rights) pursuant to the Partnership Agreement.