SNMP - Court approves Evolve Transition Infrastructure's settlement agreement with Mesquite Energy

The United States Bankruptcy Court for the Southern District of Texas has approved Evolve Transition Infrastructure's (NYSE:SNMP) settlement agreement with Mesquite Energy, and certain of their respective affiliates resolving outstanding claims between the parties. Mesquite will pay $10M to Evolve as part of the agreement. Evolve expects to use the proceeds for both debt repayment and general partnership expenses. The company now anticipates less than $30M of total debt outstanding as of Sep. 30, compared to $180M as of Dec. 31, 2018. Shares were trading +24.29% post-market. Source: Press Release

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Court approves Evolve Transition Infrastructure's settlement agreement with Mesquite Energy