Business Context and Reporting Period
This Form 8-K Current Report was filed by STAR GROUP, L.P. on November 16, 2020. The report discloses the entry into a material definitive agreement regarding the repurchase of the Company's common units.
Key Financial Metrics
The filing details a specific transaction rather than periodic financial performance metrics (e.g., revenue, profit, or cash flow).
- Transaction Type: Private purchase of common units.
- Units Purchased: 1.4 million common units.
- Aggregate Consideration: Approximately $13.8 million.
- Counterparty: Moab Partner, L.P. (Seller).
- Plan Status: The purchase was made outside of the Company's unit repurchase plan.
Material Changes
The primary material change is the reduction of outstanding common units by 1.4 million following the closing of the transaction on November 16, 2020. The filing notes that the Seller's investment advisor, Moab Capital Partners, LLC, owned or exercised discretion over 1,963,860 common units as of September 30, 2020, per a Form 13F filed on the same date.
Guidance, Outlook, and Risks
The filing text does not provide updated financial guidance, management commentary on future outlook, specific risk factors, or contingencies beyond the disclosure of the completed transaction.
Investor Verification Checklist
- Verify the impact of the 1.4 million unit repurchase on the total outstanding share count.
- Confirm the effective price per unit ($13.8 million / 1.4 million units).
- Review the Company's remaining liquidity and cash position post-transaction.
- Check subsequent filings for any updates to the Company's unit repurchase plan status.