Riverstone Echo GP, LLC - Mar 1, 2023 Form 4 Insider Report for Enviva Inc. (EVA)

Signature
RIVERSTONE ECHO GP, LLC By: /s/ Peter Haskopoulos, Managing Director
Stock symbol
EVA
Transactions as of
Mar 1, 2023
Transactions value $
$149,999,934
Form type
4
Date filed
3/3/2023, 06:24 PM
Previous filing
Feb 28, 2023
Next filing
Jun 20, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction EVA Series A Preferred Stock Purchase $150M +3.98M $37.71 3.98M Mar 1, 2023 Common Stock 3.98M See Footnotes F1, F2, F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Series A Preferred Stock ("Preferred Share") is convertible into one share of Common Stock of Enviva Inc. (the "Issuer"), subject to adjustment for any stock dividends, splits, combinations and similar events.
F2 Includes 3,977,723 Preferred Shares purchased pursuant to three separate subscription agreements, dated February 28, 2023, by and between the Issuer and Riverstone Echo Continuation Holdings, L.P. ("Echo Continuation Holdings"), Riverstone Echo Rollover Holdings, L.P. ("Echo Rollover Holdings"), and Riverstone Echo PF Holdings, L.P. ("PF Holdings"), respectively, of which 1,969,002 Preferred Shares were purchased by Echo Continuation Holdings, 267,869 Preferred Shares were purchased by Echo Rollover Holdings, and 1,740,852 Preferred Shares were purchased by PF Holdings.
F3 The conversion of the Preferred Shares to shares of Common Stock of the Issuer is subject to and will occur automatically upon stockholder approval of a proposal to issue Common Stock upon conversion of the Preferred Shares for purposes of Rule 312.03 of the New York Stock Exchange Listed Company Manual.
F4 David M. Leuschen and Pierre F. Lapeyre, Jr. are the managing directors of Riverstone Management Group, L.L.C. ("Riverstone Management"), and have or share voting and investment discretion with respect to the securities beneficially owned by Riverstone Management, which is the general partner of Riverstone/Gower Mgmt Co Holdings, L.P., which is the sole member of Riverstone Holdings LLC, which is the sole member of Riverstone Echo GP, LLC, which is the general partner of Riverstone Echo Partners, L.P., which is the sole member of each of Riverstone ECF GP, LLC ("ECF GP") and Riverstone Echo Rollover GP, LLC ("Echo Rollover GP").
F5 ECF GP is the general partner of each of Echo Continuation Holdings and PF Holdings. Echo Rollover GP is the general partner of Echo Rollover Holdings. As a result of these relationships, each of these entities and individuals may be deemed to have or share beneficial ownership of the securities held of record by Echo Continuation Holdings, Echo Rollover Holdings, and PF Holdings. Each such entity or person disclaims beneficial ownership of such securities except to the extent of their respective pecuniary interest therein.

Remarks:

Due to limitations of the electronic filing system, Riverstone Holdings LLC, Riverstone Management Group, L.L.C., Riverstone/Gower Mgmt Co Holdings, L.P., David M. Leuschen, and Pierre F. Lapeyre are filing a separate Form 5.