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Black Stone Minerals, L.P. (NYSE:BSM) announced Wednesday that it has entered into a Unitholder Agreement with AP Basileia SPV, LLC concerning the company’s preferred units. The agreement, executed on August 22, 2025, outlines specific voting and transfer provisions for preferred units held by AP Basileia SPV.
According to the filing, AP Basileia SPV has agreed to vote all of its preferred units and any additional securities acquired under the agreement in accordance with the recommendations of the Board of Directors of Black Stone Minerals’ general partner on all ordinary matters submitted to limited partners for approval. In return, Black Stone Minerals has agreed not to exercise its right to redeem the preferred units during the period covered by the agreement.
The agreement is effective from August 22, 2025, and will remain in place until November 27, 2027. During this period, AP Basileia SPV is also subject to a customary standstill provision regarding the partnership and is restricted from transferring its preferred units or related securities unless the transferee agrees in writing to be bound by the same terms.
The company stated that these terms are subject to certain exceptions, as specified in the agreement. The full text of the Unitholder Agreement was filed as an exhibit to the Form 8-K.
This information is based on a statement in a press release and an SEC filing published Wednesday. Currently trading near its 52-week low of $11.90, InvestingPro analysis indicates the stock may be undervalued, presenting a potential opportunity for investors seeking both growth and income.
In other recent news, Black Stone Minerals LP reported robust financial results for the second quarter of 2025, significantly exceeding both earnings and revenue expectations. The company announced an earnings per share (EPS) of $0.53, which surpassed the projected $0.29 by 82.76%. Revenue reached $159.49 million, far exceeding the anticipated $111.75 million, marking a 42.72% surprise. These results highlight the company’s strong performance and have garnered attention from investors. The earnings and revenue figures are crucial as they provide insight into the company’s financial health. Analyst firms have taken note of these developments, with potential implications for future evaluations. These recent developments underscore the importance of closely monitoring Black Stone Minerals for further updates.
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