21 unchanged sentences
Recent Sales of Unregistered Securities
−Removed: In connection with our IPO and related transactions, the Legacy Owners acquired the following interests (collectively, the “Stapled Interests”):
−Removed: (i) AAP units representing an economic limited partner interest in AAP;
−Removed: (ii) general partner units representing a non-economic membership interest in our general partner;
−Removed: and (iii) Class B shares representing a non-economic limited partner interest in us.
−Removed: The Legacy Owners and any permitted transferees of their Stapled Interests have the right to exchange (the “Exchange Right”) all or a portion of such Stapled Interests for an equivalent number of Class A shares.
−Removed: In connection with the exercise of the Exchange Right, the Stapled Interests are transferred to us and the applicable Class B shares are canceled.
−Removed: Although we issue one Class A share for each Stapled Interest that is exchanged, we also receive one AAP unit and one general partner unit.
−Removed: As a result, the exercise by Legacy Owners of the Exchange Right is not dilutive.
−Removed: During the three months ended December 31, 2022, Exchange Right exercises resulted in the issuance of 121,576 Class A shares.
−Removed: The issuance of Class A shares in connection with the exercise of the Exchange Right was exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof.
Issuer Purchases of Equity Securities
16 unchanged sentences
“Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources—Credit Agreements, Commercial Paper Program and Indentures.”
−Removed: Index to Financial Statements
Our general partner owns a non-economic general partner interest in us, which does not entitle it to receive cash distributions.
+Added: Index to Financial Statements
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.