| Summary of Issuances of Preferred Units |
The following table summarizes the Partnership’s outstanding Preferred Units as of March 31, 2026 and December 31, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
Month Issued |
|
Units |
|
|
Purchase Price |
|
|
Distribution
Rate |
|
|
Redemption
Price per Unit |
|
|
Earliest Optional Redemption
Date |
Series A-1 Preferred Units |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
April 2022 |
|
|
2,000,000 |
|
|
$ |
20,000,000 |
|
|
|
3.00 |
% |
|
$ |
10.00 |
|
|
April 2028 |
October 2022 |
|
|
1,000,000 |
|
|
|
10,000,000 |
|
|
|
3.00 |
% |
|
|
10.00 |
|
|
October 2028 |
February 2023 |
|
|
1,500,000 |
|
|
|
15,000,000 |
|
|
|
3.00 |
% |
|
|
10.00 |
|
|
February 2029 |
June 2023 |
|
|
1,000,000 |
|
|
|
10,000,000 |
|
|
|
3.00 |
% |
|
|
10.00 |
|
|
June 2029 |
Total Series A-1 Preferred Units |
|
|
5,500,000 |
|
|
|
55,000,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series B Preferred Units |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
January 2024 |
|
|
1,750,000 |
|
|
$ |
17,500,000 |
|
|
|
5.75 |
% |
|
$ |
10.00 |
|
|
January 2030 |
February 2024 |
|
|
500,000 |
|
|
|
5,000,000 |
|
|
|
5.75 |
% |
|
|
10.00 |
|
|
February 2030 |
March 2025 |
|
|
2,000,000 |
|
|
|
20,000,000 |
|
|
|
5.75 |
% |
|
|
10.00 |
|
|
March 2031 |
October 2025 |
|
|
500,000 |
|
|
|
5,000,000 |
|
|
|
5.75 |
% |
|
|
10.00 |
|
|
October 2031 |
Total Series B Preferred Units |
|
|
4,750,000 |
|
|
|
47,500,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unamortized equity issuance costs |
|
|
|
|
$ |
(83,121 |
) |
|
|
|
|
|
|
|
|
Redeemable Preferred Units
outstanding as of March 31, 2026 |
|
|
10,250,000 |
|
|
$ |
102,416,879 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
Month Issued |
|
Units |
|
|
Purchase Price |
|
|
Distribution
Rate |
|
|
Redemption
Price per Unit |
|
Series A-1 Preferred Units |
|
|
|
|
|
|
|
|
|
|
|
|
April 2022 |
|
|
2,000,000 |
|
|
$ |
20,000,000 |
|
|
|
3.00 |
% |
|
$ |
10.00 |
|
October 2022 |
|
|
1,000,000 |
|
|
|
10,000,000 |
|
|
|
3.00 |
% |
|
|
10.00 |
|
February 2023 |
|
|
1,500,000 |
|
|
|
15,000,000 |
|
|
|
3.00 |
% |
|
|
10.00 |
|
June 2023 |
|
|
1,000,000 |
|
|
|
10,000,000 |
|
|
|
3.00 |
% |
|
|
10.00 |
|
Total Series A-1 Preferred Units |
|
|
5,500,000 |
|
|
|
55,000,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series B Preferred Units |
|
|
|
|
|
|
|
|
|
|
|
|
January 2024 |
|
|
1,750,000 |
|
|
$ |
17,500,000 |
|
|
|
5.75 |
% |
|
|
10.00 |
|
February 2024 |
|
|
500,000 |
|
|
|
5,000,000 |
|
|
|
5.75 |
% |
|
|
10.00 |
|
March 2025 |
|
|
2,000,000 |
|
|
|
20,000,000 |
|
|
|
5.75 |
% |
|
|
10.00 |
|
October 2025 |
|
|
500,000 |
|
|
|
5,000,000 |
|
|
|
5.75 |
% |
|
|
10.00 |
|
Total Series B Preferred Units |
|
|
4,750,000 |
|
|
|
47,500,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unamortized equity issuance costs |
|
|
|
|
$ |
(89,493 |
) |
|
|
|
|
|
|
Redeemable Preferred Units
outstanding as of December 31, 2025 |
|
|
10,250,000 |
|
|
$ |
102,410,507 |
|
|
|
|
|
|
|
|