0001558370-16-006470.txt : 20160624 0001558370-16-006470.hdr.sgml : 20160624 20160624160327 ACCESSION NUMBER: 0001558370-16-006470 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20160624 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20160624 DATE AS OF CHANGE: 20160624 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Landmark Infrastructure Partners LP CENTRAL INDEX KEY: 0001615346 STANDARD INDUSTRIAL CLASSIFICATION: LESSORS OF REAL PROPERTY, NEC [6519] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36735 FILM NUMBER: 161731119 BUSINESS ADDRESS: STREET 1: 2141 ROSECRANS AVENUE, SUITE 2100 STREET 2: PO BOX 3429 CITY: EL SEGUNDO STATE: CA ZIP: 90245 BUSINESS PHONE: 310-294-8160 MAIL ADDRESS: STREET 1: 2141 ROSECRANS AVENUE, SUITE 2100 STREET 2: PO BOX 3429 CITY: EL SEGUNDO STATE: CA ZIP: 90245 8-K 1 lmrk-20160624x8k.htm 8-K LMRK_CurrentFolio_8-K_Other_Events

 

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION 

Washington, D.C. 20549 

 

FORM 8-K

 

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934 

 

Date of Report (Date of earliest event reported): June 24, 2016 

 

Landmark Infrastructure Partners LP

(Exact name of registrant as specified in its charter)

 

 

 

 

 

 

 

 

 

 

Delaware 

 

001-36735

 

61-1742322

(State or other jurisdiction

 

(Commission

 

(IRS Employer

of incorporation or organization)

 

File Number)

 

Identification No.)

 

2141 Rosecrans Avenue, Suite 2100

El Segundo, CA 90245
(Address of principal executive office) (Zip Code)

 

(310) 598-3173
(Registrants’ telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

  

 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

 

 

 

 

 

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

 

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

 

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

 

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

 

 


 

Item 8.01 Other Events.

 

Landmark Infrastructure Partners LP is filing as Exhibit 12.1 to this Current Report on Form 8-K a Statement Regarding Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Distributions, which includes the calculation of its historical ratio of earnings to combined fixed charges and preferred distributions for the three months ended March 31, 2016 and the years ended December 31, 2015, 2014, 2013 and 2012.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

 

 

 

 

Exhibit

 

 

Number

 

Description

12.1

 

Statement Regarding Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Distributions.

 

 

2

 


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

 

 

 

 

 

 

 

 

 

Landmark Infrastructure Partners LP
 

 

 

 

By:  


Landmark Infrastructure Partners GP LLC,  

 

 

 

its general partner 

 

 

 

 

 

 

 

 

 

Dated: June 24,  2016

By:  

/s/ George P. Doyle

 

 

 

Name:

George P. Doyle

 

 

 

Title:

Chief Financial Officer and Treasurer

 

 

3

 


 

EXHIBIT INDEX 

 

 

 

 

 

Exhibit

 

 

Number

 

Description

12.1

 

Statement Regarding Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Distributions.

 

 

4

 


EX-12.1 2 lmrk-20160624ex12122fa3f.htm EX-12.1 LMRK_EX_121

Exhibit 12.1

 

 

Landmark Infrastructure Partners LP

Ratio of Earnings to Combined Fixed Charges and Preferred Distributions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Landmark Infrastructure Partners LP (3)

 

Predecessor to Landmark Infrastructure Partners LP (3)

 

 

 

 

 

 

 

 

Period From

 

Period From

 

 

 

 

 

 

Three Months Ended

 

Year Ended

 

Year Ended

 

November 19, 2014 to

 

January 1, 2014 to

 

Year Ended

 

Year Ended

 

 

March 31, 2016

 

December 31, 2015

 

December 31, 2014

 

December 31, 2014

 

November 19, 2014

 

December 31, 2013

 

December 31, 2012

Earnings:(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

(427,626)

 

$

(434,080)

 

$

2,860,628

 

$

(2,698,348)

 

$

5,558,976

 

$

5,647,830

 

$

1,082,382

Add (deduct):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

2,347,491

 

 

8,398,089

 

 

7,831,847

 

 

360,689

 

 

7,471,158

 

 

5,406,753

 

 

1,957,834

Capitalized interest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total earnings

 

$

1,919,865

 

$

7,964,009

 

$

10,692,475

 

$

(2,337,659)

 

$

13,030,134

 

$

11,054,583

 

$

3,040,216

Fixed charges:(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

2,347,491

 

$

8,398,089

 

$

7,831,847

 

$

360,689

 

$

7,471,158

 

$

5,406,753

 

$

1,957,834

Capitalized interest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimate of interest within rental expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

2,347,491

 

$

8,398,089

 

$

7,831,847

 

$

360,689

 

$

7,471,158

 

$

5,406,753

 

$

1,957,834

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

 

—  (2) 

 

 

—  (2) 

 

 

1.37x

 

 

—  (2) 

 

 

1.74x

 

 

2.04x

 

 

1.55x

Ratio of Earnings to Fixed Charges and Preferred Distributions (4)

 

 

—  (2) 

 

 

—  (2) 

 

 

1.37x

 

 

—  (2) 

 

 

1.74x

 

 

2.04x

 

 

1.55x


(1)

For purposes of this presentation, earnings represent income before income taxes adjusted for fixed charges and capitalized interest. Fixed charges consist of interest expensed and capitalized, amortization of deferred loan costs and estimate of interest in rent expense.

 

(2)

Earnings were inadequate to cover fixed charges by $0.4 million, $0.4 million and $2.7 million for the three months ended March 31, 2016, for the year ended December 31, 2015 and for the period from November 19, 2014 to December 31, 2014, respectively.

 

(3)

Prior-period financial information has been retroactively adjusted for certain assets acquired during the year ended December 31, 2015. For further information, see the financial statements and the accompanying notes and other information included in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2015 filed with the Securities and Exchange Commission on February 16, 2016. 

 

(4)

The Ratio of Earning to Fixed Charges and Preferred Distributions was equal to the Ratio of Earning to Fixed Charges for the periods presented because no Series A Preferred Units were issued prior to March 31, 2016.