(f) See Item 2(a)-(b) above for citizenship or place of organization, as applicable, of each of the Reporting Persons.
Item 3. | Source and Amount of Funds or Other Consideration |
The information in Item 6 of this Schedule 13D is incorporated herein by reference.
On March 17, 2021, in connection with the Issuer’s initial public offering, the Issuer engaged in a series of restructuring transactions as a result of which the Reporting Persons received the following: (i) Vine Investment LLC (“Vine Investment”) received 71,429 shares of Class A Common Stock, 17,387,012 shares of Class B common stock of the Issuer (“Class B Common Stock”), and 17,387,012 common units of Vine Energy Holdings LLC (“Vine Holdings”) (“Common Units”), which are exchangeable for shares of Class A Common Stock on a one-for-one basis, (ii) Vine Investment II LLC (“Vine Investment II”) received 9,504,061 shares of Class A Common Stock, (iii) Brix Investment LLC (“Brix Investment”) received 70,390 shares of Class A Common Stock, 16,588,860 shares of Class B Common Stock, and 16,588,860 Common Units, which are exchangeable for shares of Class A Common Stock on a one-for-one basis, (iv) Brix Investment II LLC (“Brix Investment II”) received 6,572,408 shares of Class A Common Stock, (v) Harvest Investment LLC (“Harvest Investment,” together with Vine Investment and Brix Investment, the “Investment Vehicles”) received 1,038 shares of Class A Common Stock, 242,663 shares of Class B Common Stock, and 242,663 Common Units, which are exchangeable for shares of Class A Common Stock on a one-for-one basis and (vi) Harvest Investment II LLC (“Harvest Investment II,” together with Vine Investment II and Brix Investment II, the “Investment II Vehicles”) received 96,395 shares of Class A Common Stock.
In addition to the above described securities owned by the Investment Vehicles and Investment II Vehicles pursuant to the restructuring transactions, the Investment Vehicles and Investment II Vehicles purchased additional Class A Common Stock on March 22, 2021 in the Issuer’s initial public offering at a price of $13.30 (representing the $14.00 initial public offering sale price of the Class A Common Stock, less the underwriting discount of $0.70 per share) and as a result of which the Reporting Persons received the following: (i) Vine Investment received 1,479,905 shares of Class A Common Stock, (ii) Vine Investment II received 808,762 shares of Class A Common Stock, (iii) Brix Investment received 1,409,507 shares of Class A Common Stock, (iv) Brix Investment II received 556,887 shares of Class A Common Stock, (v) Harvest Investment received 21, 787 shares of Class A Common Stock and (vi) Harvest Investment II received 8,152 shares of Class A Common Stock.
Item 4. | Purpose of Transaction |
The Reporting Persons acquired the securities reported herein for investment purposes, subject to the following:
The information in Item 6 of this Schedule 13D is incorporated herein by reference.
The Reporting Persons intend to review their investment in the Issuer on an ongoing basis and, in the course of their review, may take actions (including through their affiliates) with respect to their investment or the Issuer, including communicating with the board of directors of the Issuer (the “Board”), members of management or other security-holders of the Issuer, or other third parties from time to time, taking steps to implement a course of action, including, without limitation, engaging advisors, including legal, financial, regulatory, technical and/or industry advisors, to assist in any review, and evaluating strategic alternatives as they may become available. Such discussions and other actions may relate to, subject to the terms and conditions of the documents described herein to which the Reporting Persons are a party, various alternative courses of action, including, without limitation, those related to an extraordinary corporate transaction (including, but not limited to a merger, reorganization or liquidation) involving the Issuer or any of its subsidiaries; business combinations involving the Issuer or any of its subsidiaries, a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; material asset purchases; the formation of joint ventures with the Issuer or any of its subsidiaries or the entry into other material projects; changes in the present business, operations, strategy, future plans or prospects of the Issuer, financial or governance matters; changes to the Board (including board composition) or management of the Issuer; acting as a participant in debt financings of the Issuer or any of its subsidiaries, changes to the capitalization, ownership structure, dividend policy, business or corporate structure or governance documents of the Issuer; de-listing or de-registration of the Issuer’s securities, or any action similar to those enumerated above.