Ares Management Llc - Oct 7, 2022 Form 4 Insider Report for Infrastructure & Energy Alternatives, Inc. (IEA)

Signature
ARES MANAGEMENT LLC /s/ Josh Bloomstein By: Josh Bloomstein Its: Authorized Signatory
Stock symbol
IEA
Transactions as of
Oct 7, 2022
Transactions value $
$0
Form type
4
Date filed
10/11/2022, 04:06 PM
Previous filing
Oct 11, 2022
Next filing
Oct 12, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IEA Common Stock, $0.0001 par value per share Disposed to Issuer -67.7K -100% 0 Oct 7, 2022 Direct F1
transaction IEA Common Stock, $0.0001 par value per share Disposed to Issuer -11.6M -100% 0 Oct 7, 2022 By ASOF Holdings I, L.P. F1, F2, F3, F4
transaction IEA Common Stock, $0.0001 par value per share Disposed to Issuer -3.69M -100% 0 Oct 7, 2022 By Ares Special Situations Fund IV, L.P F1, F2, F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction IEA Warrants to purchase Common Stock Disposed to Issuer -4.33M -100% 0 Oct 7, 2022 Common stock, par value $0.0001 per share 0 $0.00 By ASOF Holdings I, L.P. F2, F3, F4, F5
transaction IEA Warrants to purchase Common Stock Disposed to Issuer -297K -100% 0 Oct 7, 2022 Common stock, par value $0.0001 per share 0 $0.00 By ASOF Holdings I, L.P. F2, F3, F4, F5
transaction IEA Warrants to purchase Common Stock Disposed to Issuer -339K -100% 0 Oct 7, 2022 Common stock, par value $0.0001 per share 0 $0.00 By Ares Special Situations Fund IV, L.P. F2, F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Ares Management Llc is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Each share was disposed of subject to the terms of an Agreement and Plan of Merger (the "Merger Agreement"), dated as of July 24, 2022, by and among MasTec, Inc. ("MasTec"), Indigo Acquisition I Corp. and the Issuer, for a price, subject to the Merger Agreement, of $10.50 in cash consideration and 0.0483 shares of MasTec common stock having a market value of $65.53 per share on the effective date of the merger.
F2 This statement is being filed jointly by (i) Ares Special Situations Fund IV, L.P. ("ASSF IV"), (ii) ASSF Operating Manager IV, L.P. ("ASSF Operating Manager IV"), (iii) ASOF Holdings I, L.P ("ASOF"), (iv) ASOF Investment Management LLC ("ASOF Investment Management"), (v) Ares Management LLC, (vi) Ares Management Holdings L.P. ("Ares Management Holdings"), (vii) Ares Holdco LLC ("Ares Holdco"), (viii) Ares Management Corporation ("Ares Management"), (ix) Ares Voting LLC ("Ares Voting"), (x) Ares Management GP LLC ("Ares Management GP") and (xi) Ares Partners Holdco LLC ("Ares Partners") (collectively, the "Reporting Persons"). This Form 4 is being filed in two parts due to the number of Reporting Persons.
F3 Ares Partners is the sole member of each of Ares Voting and Ares Management GP, which are respectively the holders of the Class B and Class C common stock of Ares Management, which common stock allows them, collectively, to generally have the majority of the votes on any matter submitted to the stockholders of Ares Management if certain conditions are met. Ares Management is the sole member of Ares Holdco, which is the general partner of Ares Management Holdings, which is the sole member of Ares Management LLC, which is: (a) the general partner of ASSF Operating Manager IV, which is the manager of ASSF IV and (b) the sole member of ASOF Investment Management, which is the manager of ASOF.
F4 Ares Partners is managed by a board of managers, which is composed of Michael J Arougheti, Ryan Berry, R. Kipp deVeer, David B. Kaplan, Antony P. Ressler and Bennett Rosenthal (collectively, the "Board Members"). Mr. Ressler generally has veto authority over Board Members' decisions. Each of the Reporting Persons and the Board Members and the other directors, officers, partners, stockholders, members and managers of the Reporting Persons expressly disclaims beneficial ownership of these securities, except to the extent of any pecuniary interest therein, and this Form 4 shall not be deemed an admission that any such person or entity is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purposes.
F5 Each warrant was disposed of subject to the terms Merger Agreement, for a price, subject to the Merger Agreement, of $10.50 in cash consideration and 0.0483 shares of MasTec common stock having a market value of $65.53 per share on the effective date of the merger.

Remarks:

Ares Management LLC and its affiliates designated Matthew Underwood and Scott Graves to be appointed to the board of directors of the Issuer. Mr. Underwood became a director effective March 10, 2020 and Mr. Graves became a director effective August 17, 2021. Accordingly, Ares Management LLC and its affiliates listed hereon may be deemed to be a director by deputization for purposes of Section 16 of the Exchange Act.