Announcement • May 17
Grey Rock Investment Partners entered into a definitive agreement to acquire Executive Network Partnering Corporation (NYSE:ENPC) for $1.3 billion in a reverse merger transaction. Grey Rock Investment Partners entered into a definitive agreement to acquire Executive Network Partnering Corporation (NYSE:ENPC) for $1.3 billion in a reverse merger transaction on May 16, 2022. The transaction shall result in the formation of publicly traded Granite Ridge Resources, Inc. to be listed on the NYSE under the ticker symbol “GRNT” and “GRNT WS,” respectively. Upon closing, Granite Ridge will maintain a seven-person board, which will include three independent directors as well as a committee dedicated to strong ESG practices. Granite Ridge will be led by Chief Executive Officer Luke Brandenberg and Chief Financial Officer Tyler Farquharson. The transaction is subject to approval by the ENPC stockholders, the Proxy Statement/Prospectus shall have become effective, ENPC shall have net tangible assets of at least $5 million, Granite Ridge common stock and warrants shall have been approved for listing on NYSE and customary regulatory requirements. The transaction was unanimously approved by the Board of ENPC. The closing of the transaction is expected to occur later this year 2022. Gross proceeds of approximately $414 million held in the trust account will be transferred to Granite Ridge in connection with the transaction for growth capital purposes, including future acquisitions. Evercore is acting as exclusive financial and capital markets advisor to Grey Rock and Stephens Inc. is acting as financial advisor to ENPC. Amy Curtis, Roger Aksamit, Hunter White, Nathan Stone, Mark Melton, Brandon Bloom, Tony Campiti, Kerry Halpern, Ashley Phillips, John Dierking, James McKellar and Jeremiah Mayfield of Holland & Knight LLP is acting as legal counsel to Grey Rock and Willard S. Boothby, Thomas K. Laughlin, Randy Santa Ana, Julian J. Seiguer, Anne G. Peetz, Christian O. Nagler, Wayne E. Williams, Danny Nappier and Peter Martelli of Kirkland & Ellis LLP is acting as legal counsel to ENPC. Announcement • Jun 03
Executive Network Partnering Receives Non-Compliance Notice from NYSE On May 25, 2021, Executive Network Partnering Corp. (the “Company”) received a notice from the New York Stock Exchange (the “NYSE”) indicating that it is not in compliance with NYSE continued listing requirements under the timely filing criteria established in Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file the Form 10-Q for the fiscal quarter ended March 31, 2021 (the “Form 10-Q”). On April 12, 2021, the staff of the Securities and Exchange Commission (“SEC”) issued a public statement entitled “Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (“SPACs”)” (the “Statement’), which clarified guidance for all SPAC-related companies regarding the accounting and reporting for their warrants. The immediacy of the effective date of the new guidance set forth in the Statement has resulted in a significant number of SPACs re-evaluating the accounting treatment for their warrants with their professional advisors, including auditors and other advisors responsible for assisting SPACs in the preparation of financial statements. This, in turn, has resulted in the Company’s delay in preparing and finalizing its financial statements as of and for the quarter ended March 31, 2021 and filing its Form 10-Q with the SEC by the prescribed deadline. Under the NYSE’s rules, the Company has six months following receipt of the notification of non-compliance to file the Form 10-Q with the SEC and can regain compliance with the NYSE listing standards before that deadline. The Company filed the Form 10-Q with the SEC on June 1, 2021. Announcement • May 19
Executive Network Partnering Corporation announced delayed 10-Q filing On 05/18/2021, Executive Network Partnering Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. 
