Company Overview of Twin Cities Power, L.L.C.
Twin Cities Power, L.L.C. was founded in 2011 and is based in Lakeville, Minnesota. The company operates as a subsidiary of Twin Cities Power Holdings, LLC.
16233 Kenyon Avenue
Lakeville, MN 55044
Founded in 2011
Key Executives for Twin Cities Power, L.L.C.
Compensation as of Fiscal Year 2013.
Twin Cities Power, L.L.C. Key Developments
Twin Cities Power, L.L.C. Announces Extension of $400,000 Promissory Note Maturity Date to December 31, 2013
Jun 20 13
As previously disclosed by Twin Cities Power Holdings, LLC (the 'company'), on April 8, 2011, Twin Cities Power, LLC ("TCP"), a wholly-owned subsidiary of the Company, executed a Promissory Note in favor of John O. Hanson in the principal amount of $400,000. On or around December 10, 2012, TCP and Mr. Hanson executed a Promissory Note Extension, pursuant to which Mr. Hanson agreed to extend the term of the Note from its previous maturity date of December 31, 2012 to June 30, 2013. On June 13, 2013, TCP and Mr. Hanson agreed to further extend the term of the Note to mature on December 31, 2013 or upon Mr. Hanson's earlier demand. The outstanding balance of the Note is $200,000, and the remaining terms of the Note shall remain the same, with TCP paying interest on such outstanding balance at a rate of twenty (20%) per annum.
Federal Energy Regulatory Commission Issues Order to Twin Cities Power, L.L.C. on Order Authorizing Disposition of Jurisdictional Facilities
Mar 12 13
Twin Cities Power, L.L.C. filed an application under section 203(a)(1) of the Federal Power Act (FPA) requesting Commission authorization for the indirect disposition of jurisdictional facilities in connection with the purchase by one upstream owner of the other upstream owner's interest in Twin Cities Power Holdings, LLC's (Twin Cities Holdings), Twin Cities' corporate parent (Transaction), which will result in the remaining owner holding all of the membership interests in Twin Cities Holdings. The jurisdictional facilities consist of Twin Cities' market-based rate tariff, and any agreements pursuant to that market-based rate tariff and related books and records. Although Twin Cities states that the Transaction may not require Commission approval under FPA section 203, it nevertheless asks the Commission to approve the application. This order approves the Transaction without making any determination of jurisdiction. According to Twin Cities, on December 20, 2011, the Commission authorized certain of Twin Cities' owners to purchase membership interests of other owners and Twin Cities Holdings to acquire all the membership interests in Twin Cities and its affiliates. These upstream changes in ownership closed on December 31, 2011. Upon closing, Twin Cities Holdings was owned by two persons and one entity, DBJ 2001 Holdings (DBJ): Mr. Michael J. Tufte owned 23.69%, while Mr. Timothy Krieger owned 68.23% and DBJ owned 8.08%. Effective January 1, 2012, Mr. Tufte transferred the financial rights to his membership interests in Twin Cities Holdings to Twin Cities Holdings and, upon commission approval which was received April 30, 2012, transferred the governance rights, at which point Twin Cities Holdings (and indirectly Twin Cities) was owned entirely by Mr. Krieger and DBJ, with Mr. Krieger owning 89.42% and DBJ owning 10.58%. Pursuant to a Membership Unit Purchase Agreement, DBJ transferred the financial rights to its membership interests in Twin Cities Holdings to Mr. Krieger and, upon Commission approval, will transfer the governance rights to Mr. Krieger. Upon consummation of the Transaction, Twin Cities Holdings (and indirectly Twin Cities) will be owned entirely by Mr. Krieger.
Twin Cities Power, L.L.C. Presents at 5th Annual Nodal Trader, Oct-26-2012 11:45 AM
Sep 5 12
Twin Cities Power, L.L.C. Presents at 5th Annual Nodal Trader, Oct-26-2012 11:45 AM. Venue: Marriott Marquis, 1535 Broadway, New York, NY 10036, United States. Speakers: Stephanie Staska, Chief Risk Officer.
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