EnLink Midstream Completes Merger Sub II Transaction

EnLink Midstream, LLC, now succeeded by Elk Merger Sub II, L.L.C., completed a significant transaction as reported in an 8-K filing to the U.S. Securities and Exchange Commission on January 31, 2025. The merger, which involved Elk Merger Sub I, L.L.C. and EnLink Midstream, LLC, resulted in EnLink surviving the initial merger and Elk Merger Sub II, L.L.C. emerging as the surviving entity in the subsequent merger. Both mergers were carried out according to the terms outlined in the Merger Agreement, dated November 24, 2024.

A crucial aspect of the post-merger activities was the entry into Supplemental Indentures. In conjunction with the Second Merger, Elk Merger Sub II assumed all obligations of EnLink, releasing EnLink from its duties under the relevant Indentures. Additionally, EnLink Midstream Partners, LP, and Computershare Trust Company, N.A. as trustee, executed Supplemental Indentures related to EnLink’s outstanding 5.625% Senior Notes due 2028, 5.375% Senior Notes due 2029, 6.500% Senior Notes due 2030, and 5.650% Senior Notes due 2034.

As part of the deal, EnLink successfully repaid all outstanding obligations and terminated lender commitments under the Amended and Restated Revolving Credit Agreement. The merger led to the conversion of EnLink Units into shares of ONEOK common stock, with ONEOK now owning a significant portion of EnLink Units.

Following the Mergers, EnLink moved to delist its EnLink Units from the New York Stock Exchange through a Form 25 filing. In line with this, Merger Sub II, as EnLink’s successor in interest, intends to file a Form 15 with the SEC to suspend its reporting obligations. Additionally, the Mergers prompted an exchange of outstanding Series B Cumulative Convertible Preferred Units of ENLK for the issuance of EnLink Units.

Consequent to these significant changes, certain directors resigned from the Manager, a move unrelated to disagreements with the company. Furthermore, EnLink’s merger resulted in no changes to the documents governing Merger Sub II, maintaining continuity in their operating structure.

Investors and stakeholders are directed to the filed 8-K for detailed information on the Merger Agreements, Supplemental Indentures, and additional pertinent documentation.

The completion of this merger marks a significant step in EnLink’s evolution and streamlining, dovetailing with ONEOK’s strategic realignment and internal reorganization efforts towards continued growth and efficiency.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read EnLink Midstream’s 8K filing here.

About EnLink Midstream

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.