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Signature
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/s/ Stan Edme, Vice President, AIPCF VIII (Cayman), Ltd.
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Stock symbol
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EVVAQ
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Transactions as of
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Dec 6, 2024
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Transactions value $
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$0
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Form type
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3
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Date filed
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12/17/2024, 06:01 AM
Transactions Table
Type |
Sym |
Class |
Transaction |
Value $ |
Shares |
Change % |
* Price $ |
Shares After |
Date |
Ownership |
Footnotes |
holding |
EVVAQ |
Common Stock |
|
|
|
|
|
32.2M |
Dec 6, 2024 |
See footnote |
F1, F2, F3 |
* An asterisk sign (*) next to the price indicates that the price is likely invalid.
Explanation of Responses:
Remarks:
On March 12, 2024, the Issuer and certain of its subsidiaries (collectively, the "Debtors") filed voluntary petitions for reorganization under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court (the "Bankruptcy Court"). On November 14, 2024, the Bankruptcy Court confirmed the Debtors' Amended and Restated Joint Chapter 11 Plan of Reorganization of Enviva Inc. and Its Debtor Affiliates, dated as of October 4, 2024 (the "Plan"), and on December 6, 2024 (the "Effective Date"), the Plan became effective and the Debtors emerged from bankruptcy. Pursuant to the terms of the Plan, on the Effective Date, (i) Lightship III purchased 12,836,382 shares of the Issuer's common stock, par value $0.0001 (the "Common Stock") pursuant to the rights offering (the "Rights Offering") under the Plan at a price of $7.06 per share, (ii) Lightship III purchased 234,428 shares of Common Stock from the Issuer in satisfaction of its backstop commitment in connection with the Rights Offering and received from the Issuer a commitment premium of 1,511,182 shares of Common Stock, each at a price of $7.06 per share and (iii) the Issuer issued 17,648,499 shares of Common Stock to Lightship III pursuant to the Plan in exchange for certain of its DIP Tranche A Claims (as defined by the Plan) at a price of $7.06 per share. On the Effective Date after the completion of the transactions described above, the Issuer converted from a Delaware corporation to a Delaware limited liability company, Enviva, LLC (the "LLC Conversion"). At the time of the LLC Conversion, all shares of Common Stock then outstanding were converted into limited liability company interests of Enviva, LLC. The Reporting Persons are jointly filing this Form 3 pursuant to Rule 16a-3(j) under the Exchange Act. Each Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein, if any.