Calumet’s Strategic Reorganization and Shareholder Approval

Calumet Specialty Products (CLMT) has provided an announcement.

On July 10, 2024, Calumet Specialty Products Partners successfully completed its planned reorganization, which included terminating a longstanding Omnibus Agreement and restructuring the company through a series of mergers, effectively transforming the limited partnership into a wholly owned subsidiary of the newly formed New Calumet, Inc. Shareholders of the Partnership saw their units exchanged for shares of common stock in New Calumet, which will trade under the ticker “CLMT” on the Nasdaq. Additionally, the company’s incentive plan was converted to align with the new structure. The changes were overwhelmingly approved by shareholders at a special meeting, setting the stage for Calumet’s next chapter as a streamlined corporate entity.

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