# EDGAR Filing Document

**Accession Number:** 0001904413
**File Stem:** 0001140361-23-004181
**Filing Date:** 2023-2
**Character Count:** 11977
**Document Hash:** 1c27d8011e77abacedf3eea21b5f44a3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-23-004181.hdr.sgml**: 20230202

**ACCESSION NUMBER**: 0001140361-23-004181

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230202

**DATE AS OF CHANGE**: 20230202

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** I Squared Capital, LLC
- **CENTRAL INDEX KEY:** 0001904404
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38048
- **FILM NUMBER:** 23581342

**BUSINESS ADDRESS:**
- **STREET 1:** 600 BRICKELL AVENUE
- **STREET 2:** PENTHOUSE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131-3067
- **BUSINESS PHONE:** 786-693-5700

**MAIL ADDRESS:**
- **STREET 1:** 600 BRICKELL AVENUE
- **STREET 2:** PENTHOUSE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131-3067
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** ISQ Global Fund II GP LLC
- **CENTRAL INDEX KEY:** 0001904934
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38048
- **FILM NUMBER:** 23581344

**BUSINESS ADDRESS:**
- **STREET 1:** 600 BRICKELL AVENUE
- **STREET 2:** PENTHOUSE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131-3067
- **BUSINESS PHONE:** 786-693-5700

**MAIL ADDRESS:**
- **STREET 1:** 600 BRICKELL AVENUE
- **STREET 2:** PENTHOUSE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131-3067
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** ISQ Holdings, LLC
- **CENTRAL INDEX KEY:** 0001904413
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38048
- **FILM NUMBER:** 23581343

**BUSINESS ADDRESS:**
- **STREET 1:** 600 BRICKELL AVENUE
- **STREET 2:** PENTHOUSE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131-3067
- **BUSINESS PHONE:** 786-693-5700

**MAIL ADDRESS:**
- **STREET 1:** 600 BRICKELL AVENUE
- **STREET 2:** PENTHOUSE
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131-3067
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Kinetik Holdings Inc.
- **CENTRAL INDEX KEY:** 0001692787
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATURAL GAS TRANSMISSION [4922]
- **IRS NUMBER:** 814675947
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 2700 POST OAK BLVD.
- **STREET 2:** SUITE 300
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77056
- **BUSINESS PHONE:** 713-621-7330

**MAIL ADDRESS:**
- **STREET 1:** 2700 POST OAK BLVD.
- **STREET 2:** SUITE 300
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77056

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Altus Midstream Co
- **DATE OF NAME CHANGE:** 20181113

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Kayne Anderson Acquisition Corp
- **DATE OF NAME CHANGE:** 20161220

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>ISQ Global Fund II GP LLC<br><sub>(Last) (First) (Middle)</sub><br>600 BRICKELL AVENUE<br>PENTHOUSE<br><sub>(Street)</sub><br>MIAMI, FL 33131-3067<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-01-31 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Kinetik Holdings Inc. [ KNTK ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>ISQ Holdings, LLC<br><sub>(Last) (First) (Middle)</sub><br>600 BRICKELL AVENUE<br>PENTHOUSE<br><sub>(Street)</sub><br>MIAMI, FL 33131-3067<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-01-31 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Kinetik Holdings Inc. [ KNTK ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>I Squared Capital, LLC<br><sub>(Last) (First) (Middle)</sub><br>600 BRICKELL AVENUE<br>PENTHOUSE<br><sub>(Street)</sub><br>MIAMI, FL 33131-3067<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-01-31 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Kinetik Holdings Inc. [ KNTK ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Stock | 2023-01-31 |  | C |  | 1671 | A | <sup>(1)(2)(3)</sup> | 1759453<sup>(4)(5)</sup> | I | See Explanation of Responses<sup>(5)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Consideration Allocation Rights | <sup>(1)(2)(3)</sup> | 2023-01-31 |  | C |  |  | 1671 | <sup>(1)(2)(3)</sup> | <sup>(1)(2)(3)</sup> | Class A Common Stock | 1671 | $0 | 1607543<sup>(4)</sup> | I | See Explanation of Responses<sup>(5)</sup> |

---

### Footnotes:

(1) Securities issued pursuant to and in connection with a contribution agreement (the "Contribution Agreement"), dated October 21, 2021, by and among Kinetik Holdings Inc., a Delaware corporation (f/k/a Altus Midstream Company, the "Issuer"), Kinetik Holdings LP, a Delaware limited partnership (f/k/a Altus Midstream LP, the "Partnership"), BCP Raptor Holdco, LP, a Delaware limited partnership, and New BCP Raptor Holdco, LLC, a Delaware limited liability company.

(2) The term "Consideration Allocation Rights" refers to the right of a holder to receive, on a one-for-one basis, additional shares of Class A Common Stock originally issued as consideration in connection with the transactions under the Contribution Agreement, to the extent such shares of Class A Common Stock originally issued as consideration are forfeited by the original holders thereof (as described in footnote 3 below). Class A Common Stock or any other class or series of capital stock of the Issuer will be issued pursuant to Consideration Allocation Rights solely to the extent a corresponding forfeiture of specified shares has occurred.

(3) Forfeiture may occur as follows: (i) with respect to 395,416 shares of Class A Common Stock, if Buzzard Midstream LLC and its affiliates receive less than $882,887,056.14 in cash proceeds from transfers of Partnership Common Units, Class C Common Stock and/or Class A Common Stock effected by February 25, 2028, and (ii) with respect to the remaining Consideration Allocation Rights, due to termination of service or employment by February 25, 2025 or February 25, 2026.

(4) This number includes 609,942 shares of Class A Common Stock acquired on December 17, 2022, under the Company's Dividend Reinvestment Plan. This transaction was exempt from reporting under Section 16(a) of the Exchange Act pursuant to Rule 16a-11 thereunder.

(5) The securities are directly held by Buzzard Midstream LLC. ISQ Global Fund II GP, LLC ("Fund II GP") is the general partner of the members of the indirect owners of Buzzard Midstream LLC and, in such capacity, exercises voting and investment power over the securities directly held by Buzzard Midstream LLC. I Squared Capital is the sole member of Fund II GP. ISQ Holdings is the managing member of I Squared Capital. Each of Sadek Magdi Wahba, Gautam Bhandari and Adil Rahmathulla is a member of ISQ Holdings but, in reliance on the "rule of three," disclaim beneficial ownership over the shares of Class A Common Stock reported herein as beneficially owned by the Reporting Persons.

**Signature:** ISQ Global Fund II GP, LLC, By: /s/ Adil Rahmathulla, Director  
**Date:** 2023-02-02

**Signature:** I Squared Capital, LLC, By: ISQ Holdings, LLC, its managing member, By: /s/ Adil Rahmathulla, Manager  
**Date:** 2023-02-02

**Signature:** ISQ Holdings, LLC, By: /s/ Adil Rahmathulla, Manager  
**Date:** 2023-02-02

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**