Calumet Inc. filed SEC Form 8-K: Termination of a Material Definitive Agreement, Leadership Update
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Item 1.02 Termination of a Material Definitive Agreement.
On March 31, 2025, Calumet, Inc. (the “Company”) provided notice of its termination, effective immediately, of the Equity Distribution Agreement with BMO Capital Markets Corp. (the “Agent”), dated as of January 14, 2025 (the “Equity Distribution Agreement”). As previously reported, pursuant to the terms of the Equity Distribution Agreement, the Company could sell, from time to time, up to an aggregate offering price of $65.0 million of its common stock, par value $0.01 per share (the “Common Stock”), in an “at-the-market” equity offering program (the “ATM Program”) through the Agent. The Company is not subject to any termination penalties related to the termination of the Equity Distribution Agreement. The Company did not sell any shares of Common Stock through the ATM Program.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 1, 2025, Vincent Donargo notified Calumet, Inc. (the “Company”) of his resignation as the Company’s Chief Accounting Officer and principal accounting officer, effective April 15, 2025 (the “Effective Date”).
On the Effective Date, David Lunin will assume the role as the Company’s principal accounting officer, which is in addition to Mr. Lunin’s existing roles as Executive Vice President, Chief Financial Officer and principal financial officer of the Company.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CALUMET, INC. | ||
Date: April 4, 2025 | By: | /s/ David Lunin |
Name: David Lunin | ||
Title: Executive Vice President and Chief Financial Officer | ||