FTAI Infrastructure Inc. Announces Agreement to Sell Long Ridge Energy and Power to MARA Holdings, Inc.
Rhea-AI Summary
FTAI Infrastructure (NASDAQ:FIP) agreed to sell Long Ridge Energy & Power to a MARA Holdings subsidiary for approximately $1.52 billion before closing adjustments. The assets include a 485 MW combined-cycle plant, working gas interests and ~1,600 acres along the Ohio River.
FIP expects to eliminate $1.16 billion of Long Ridge debt, use net proceeds to repay about $300 million of parent-level debt, and reinvest in growth; closing is expected in Q3 2026, subject to regulatory approvals.
AI-generated analysis. Not financial advice.
Positive
- $1.52B sale value for Long Ridge
- Elimination of $1.16B Long Ridge asset-level debt
- Planned $300M parent-level debt repayment
Negative
- Divestiture removes a 485 MW operating power asset from FIP
- Transaction closing is subject to regulatory approvals and not guaranteed
News Market Reaction – FIP
On the day this news was published, FIP gained 8.38%, reflecting a notable positive market reaction. Argus tracked a peak move of +11.2% during that session. Argus tracked a trough of -6.3% from its starting point during tracking. Our momentum scanner triggered 25 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $54M to the company's valuation, bringing the market cap to $694.80M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
FIP traded up 1.61% while close peers showed mixed moves, including declines of -1.82% for CODI and -2.77% for TRC and a modest gain of 0.58% for BOC, suggesting a stock-specific reaction rather than a broad sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Apr 28 | Strategic investment | Positive | +1.3% | Strategic TimberHP investment to support production ramp-up and North American expansion. |
| Apr 16 | Earnings timing | Neutral | +2.7% | Announcement of timing and access details for Q1 2026 results and call. |
| Feb 26 | Earnings & dividend | Negative | -9.9% | Q4 and 2025 results with large net loss and declaration of $0.03 dividend. |
| Jan 29 | Earnings timing | Neutral | -2.8% | Scheduling announcement for Q4 and full-year 2025 earnings and conference call. |
| Dec 01 | Regulatory approval | Positive | -0.5% | STB approval for control of The Wheeling and integration with Transtar rail business. |
Recent news with clear strategic or financial implications (investments, results, approvals) has often produced price moves consistent with the apparent news tone, though at least one positive regulatory milestone coincided with a small negative reaction.
Over the past six months, FIP has reported several significant milestones. A $1.05 billion Wheeling acquisition and Surface Transportation Board approval advanced its rail strategy. Full consolidation and refinancing of the 485-megawatt Long Ridge business preceded today’s announced sale. Financial updates showed rising Adjusted EBITDA but continuing net losses and new term financing. A recent strategic investment in TimberHP reflected ongoing sustainability-focused growth. Today’s planned Long Ridge divestiture and associated deleveraging connect directly to this portfolio reshaping and balance sheet management.
Regulatory & Risk Context
An effective Form S-3ASR automatic shelf filed on 2026-03-16 allows FIP to offer various securities, including common and preferred stock, debt, and related instruments, in one or more tranches via prospectus supplements. It also registers 2,852,049 existing common shares for potential resale by selling stockholders, from which the company will not receive proceeds.
Market Pulse Summary
The stock moved +8.4% in the session following this news. A strong positive reaction aligns with the announcement of a Long Ridge sale valued at $1.52 billion and the plan to eliminate $1.16 billion of asset-level debt plus approximately $300 million of corporate debt. Past news with clear strategic benefits has often produced aligned moves. However, investors have also seen volatility around major financings and acquisitions, and an active S-3ASR shelf could facilitate future capital raises, which may influence longer-term sustainability of any sharp gains.
Key Terms
combined cycle gas power plant technical
net proceeds financial
regulatory approvals regulatory
definitive agreement financial
AI-generated analysis. Not financial advice.
MARA to purchase Long Ridge for total transaction value of approximately
FIP plans to use net proceeds to repay corporate debt and reinvest in growth opportunities
Transaction expected to close in the third quarter of 2026 following receipt of necessary regulatory approvals
NEW YORK, April 30, 2026 (GLOBE NEWSWIRE) -- FTAI Infrastructure Inc. (NASDAQ:FIP; the "Company" or “FIP”) announced today that it has entered into a definitive agreement to sell Long Ridge Energy & Power LLC (“Long Ridge”) and certain related assets to a subsidiary of MARA Holdings, Inc. (NASDAQ: MARA). The transaction is valued at approximately
Headquartered in Pittsburgh, Pennsylvania, Long Ridge is a vertically integrated power and gas company comprised of a highly efficient, 485-megawatt combined cycle gas power plant, working interests in natural gas production wells, and approximately 1,600 acres of land along the Ohio River in Southeastern Ohio.
The Company intends to use the net proceeds from the transaction, after repayment of asset-level debt, to repay a portion of its outstanding corporate debt and for reinvestment in new growth opportunities, including potential acquisitions. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the third quarter of 2026.
“The sale of Long Ridge is a key step in our strategic plan at FIP, unlocking value to our shareholders and deleveraging our company,” said Ken Nicholson, Chief Executive Officer of FIP. “Long Ridge has grown from a brownfield development project we commenced nearly a decade ago into an exceptional operating platform. As a result of the sale, we will immediately eliminate
Jefferies and Lazard are serving as financial advisors and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel to FIP in connection with the transaction.
The information contained on, or accessible through, any websites included in this press release is not incorporated by reference into, and should not be considered a part of, this press release.
Additional Information
For additional information that management believes to be useful for investors, please refer to the presentation posted on the IP Resources section of the Company’s website, www.fipinc.com, and the Company’s recent Form 8-K, when available on the Company’s website. Nothing on the Company’s website is included or incorporated by reference herein.
About FTAI Infrastructure Inc.
FTAI Infrastructure Inc. primarily invests in critical infrastructure with high barriers to entry across the rail, ports and terminals, and power and gas sectors that, on a combined basis, generate strong and stable cash flows with the potential for earnings growth and asset appreciation. FTAI Infrastructure Inc. is externally managed by an affiliate of Fortress Investment Group LLC, a leading, diversified global investment firm.
About MARA Holdings, Inc.
MARA (NASDAQ: MARA) deploys digital energy technologies to advance the world’s energy systems. Harnessing the power of compute, MARA transforms excess energy into digital capital, balancing the grid and accelerating the deployment of critical infrastructure. Building on its expertise to redefine the future of energy, MARA develops technologies that reduce the energy demands of high-performance computing applications, from AI to the edge.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond the Company’s control. The Company can give no assurance that its expectations will be attained and such differences may be material. Factors that could cause or contribute to changes in such forward-looking statements include, but are not limited to, (1) the completion of the proposed transactions on anticipated terms and timing, or at all, including obtaining regulatory approvals and other conditions to the completion of the proposed transactions; (2) events, changes or other circumstances could occur that could give rise to the termination of the proposed transactions; (3) the risks related to MARA’s financing of the proposed transactions; (4) potential litigation or regulatory actions relating to the proposed transactions; and (5) potential adverse business uncertainty resulting from the announcement, pendency or completion of the proposed transactions, including restrictions during the pendency of the proposed transactions that may impact the Company’s ability to pursue certain business opportunities or strategic transactions. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available on the Company’s website (www.fipinc.com). In addition, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.
For further information, please contact:
Alan Andreini
Investor Relations
FTAI Infrastructure Inc.
(646) 734-9414
aandreini@ftaiaviation.com
