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v3.26.1

Equity (Tables) | 12 Months Ended
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Mar. 31, 2026
Equity |
Schedule of general partner notional unit repurchases | The following table summarizes the notional unit repurchases during the last two fiscal years:
|  | Total Number of |  | Average Price |  |
|  | GP Notional Units |  | Paid Per |  | Aggregate Purchase
Period |  | Repurchased |  | GP Notional Unit |  | Price
|  |  |  |  |  | (in thousands)
July 1, 2024 - September 30, 2024 |  | 500 |  |  | $ | 4.2329 |  |  | $ | 2 |
April 1, 2025 - June 30, 2025 |  | 1,876 |  |  | $ | 4.2854 |  |  | $ | 8 |
July 1, 2025 - September 30, 2025 |  | 4,421 |  |  | $ | 4.7349 |  |  | $ | 21 |
October 1, 2025 - December 31, 2025 |  | 1,612 |  |  | $ | 9.7735 |  |  | $ | 16 |
January 1, 2026 - March 31, 2026 |  | 298 |  |  | $ | 9.5444 |  |  | $ | 3 |
Schedule of common unit repurchases | The following table summarizes our common unit repurchases during the last two fiscal years:
|  | Total Number of |  | Average Price |  |
|  | Common Units |  | Paid Per |  | Aggregate Purchase
Period |  | Repurchased |  | Common Unit |  | Price with Commissions
|  |  |  |  |  | (in thousands)
July 1, 2024 - September 30, 2024 |  | 500,000 |  |  | $ | 4.2329 |  |  | $ | 2,126 |
April 1, 2025 - June 30, 2025 |  | 1,873,838 |  |  | $ | 4.2854 |  |  | $ | 8,068 |
July 1, 2025 - September 30, 2025 |  | 4,416,425 |  |  | $ | 4.7349 |  |  | $ | 21,000 |
October 1, 2025 - December 31, 2025 (1) |  | 1,611,088 |  |  | $ | 9.7735 |  |  | $ | 15,746 |
January 1, 2026 - March 31, 2026 |  | 297,126 |  |  | $ | 9.5444 |  |  | $ | 2,835 |
(1) Included within the common units repurchases during the three months ended December 31, 2025, were 450,000 common units repurchased, from a member of management, in a privately negotiated transaction on November 22, 2025, for a per unit price of $9.86 and an aggregate purchase price of approximately $4.4 million. The price per unit was based on the closing price the day prior to the transaction date.
Schedule of Class D preferred unit repurchases | The following table summarizes the Class D Preferred Units repurchases during the current fiscal year:
|  | Total Number of |  |  |  |
|  | Class D Preferred |  | Average Price Paid Per |  | Aggregate Purchase
Date Redeemed |  | Units Repurchased |  | Class D Preferred Unit |  | Price with Distributions
|  |  |  |  |  | (in thousands)
May 19, 2025 (1) |  | 20,000 |  |  | $ | 1,410.00 |  |  | $ | 28,200 |
June 23, 2025 (2) |  | 50,000 |  |  | $ | 1,470.00 |  |  | $ | 73,500 |
October 17, 2025 (3) |  | 18,506 |  |  | $ | 1,474.48 |  |  | $ | 27,287 |
March 18, 2026 (4) |  | 196,005 |  |  | $ | 1,530.58 |  |  | $ | 300,002 |
(1) The redemption price was $1,394.04, calculated at 134.30% of $1,037.98 (the Class D Preferred Unit Price), plus distributions of $15.96. (2) The redemption price was $1,442.57, calculated at 138.98% of $1,037.98 (the Class D Preferred Unit Price), plus distributions of $27.43. (3) The redemption price was $1,469.08, calculated at 141.53% of $1,037.98 (the Class D Preferred Unit Price), plus distributions of $5.40. (4) The redemption price was $1,506.86, calculated at 145.17% of $1,037.98 (the Class D Preferred Unit Price), plus distributions of $23.72.
Schedule of outstanding warrants | The following table summarizes the outstanding warrants at March 31, 2026:
Issuance Date and Description |  | Number of Warrants |  | Exercise Price
October 31, 2019 |  |  |  |
Premium warrants |  | 1,250,000 |  |  | $ | 16.28 |
Par warrants |  | 875,000 |  |  | $ | 13.56 |
2025 Plan Service Award |
Equity |
Schedule of estimated equity-based expense to be recorded on the awards granted | The following table summarizes the estimated future expense we expect to record on the unvested Service Awards at March 31, 2026 (in thousands):
Year Ending March 31, |  |
2027 |  | $ | 6,508 |
2028 |  | 6,170 |
2029 |  | 329 |
2030 |  | 133 |
Total |  | $ | 13,140 |
2025 Plan Service Award | 2025 Long-Term Incentive Plan |
Equity |
Schedule of scheduled vesting of awards | The following table summarizes the scheduled vesting of our unvested Service Awards at March 31, 2026:
Year Ending March 31, |  |
2027 |  | 1,013,334 |
2028 |  | 26,667 |
2029 |  | 1,026,666 |
2030 |  | 13,333 |
Total |  | 2,080,000 |
Series B Preferred Stock |
Equity |
Schedule of distributions declared | The following table summarizes the distributions declared for our Class B Preferred Units during the last two fiscal years:
|  |  |  |  |  | Three-Month |  | Distribution |  | Amount Paid to Class B
Date Declared |  | Record Date |  | Payment Date |  | SOFR |  | Rate |  | Preferred Unitholders
|  |  |  |  |  |  |  |  |  | (in thousands)
June 21, 2024 |  | July 1, 2024 |  | July 15, 2024 |  | 5.300 | % |  | $ | 0.8153 |  |  | $ | 10,261 |
September 19, 2024 |  | October 1, 2024 |  | October 15, 2024 |  | 5.332 | % |  | $ | 0.8004 |  |  | $ | 10,073 |
December 12, 2024 |  | January 1, 2025 |  | January 15, 2025 |  | 4.593 | % |  | $ | 0.7542 |  |  | $ | 9,493 |
March 19, 2025 |  | April 1, 2025 |  | April 15, 2025 |  | 4.329 | % |  | $ | 0.7377 |  |  | $ | 9,284 |
June 18, 2025 |  | July 1, 2025 |  | July 15, 2025 |  | 4.298 | % |  | $ | 0.7358 |  |  | $ | 9,261 |
September 18, 2025 |  | October 1, 2025 |  | October 15, 2025 |  | 4.291 | % |  | $ | 0.7353 |  |  | $ | 9,255 |
December 16, 2025 |  | January 1, 2026 |  | January 15, 2026 |  | 3.985 | % |  | $ | 0.7162 |  |  | $ | 9,014 |
March 18, 2026 |  | April 1, 2026 |  | April 15, 2026 |  | 3.661 | % |  | $ | 0.6960 |  |  | $ | 8,759 |
Series C Preferred Stock |
Equity |
Schedule of distributions declared | The following table summarizes the distributions declared for our Class C Preferred Units during the last two fiscal years:
|  |  |  |  |  | Three-Month |  | Distribution |  | Amount Paid to Class C
Date Declared |  | Record Date |  | Payment Date |  | SOFR |  | Rate |  | Preferred Unitholders
|  |  |  |  |  |  |  |  |  | (in thousands)
June 21, 2024 |  | July 1, 2024 |  | July 15, 2024 |  | 5.300 | % |  | $ | 0.7926 |  |  | $ | 1,426 |
September 19, 2024 |  | October 1, 2024 |  | October 15, 2024 |  | 5.332 | % |  | $ | 0.7947 |  |  | $ | 1,431 |
December 12, 2024 |  | January 1, 2025 |  | January 15, 2025 |  | 4.593 | % |  | $ | 0.7486 |  |  | $ | 1,347 |
March 19, 2025 |  | April 1, 2025 |  | April 15, 2025 |  | 4.329 | % |  | $ | 0.7320 |  |  | $ | 1,318 |
June 18, 2025 |  | July 1, 2025 |  | July 15, 2025 |  | 4.298 | % |  | $ | 0.7301 |  |  | $ | 1,314 |
September 18, 2025 |  | October 1, 2025 |  | October 15, 2025 |  | 4.291 | % |  | $ | 0.7297 |  |  | $ | 1,313 |
December 16, 2025 |  | January 1, 2026 |  | January 15, 2026 |  | 3.985 | % |  | $ | 0.7106 |  |  | $ | 1,279 |
March 18, 2026 |  | April 1, 2026 |  | April 15, 2026 |  | 3.661 | % |  | $ | 0.6903 |  |  | $ | 1,243 |
Series D Preferred Stock |
Equity |
Schedule of distributions declared | The following table summarizes the distributions declared on our Class D Preferred Units during the last two fiscal years:
|  |  |  |  |  | Three-Month |  | Distribution |  | Amount Paid to Class D
Date Declared |  | Record Date |  | Payment Date |  | SOFR |  | Rate |  | Preferred Unitholders
|  |  |  |  |  |  |  |  |  | (in thousands)
June 21, 2024 (1) |  | July 1, 2024 |  | July 15, 2024 |  |  |  | $ | 26.01 |  |  | $ | 15,825 |
September 19, 2024 |  | October 1, 2024 |  | October 15, 2024 |  | 5.332 | % |  | $ | 32.08 |  |  | $ | 19,248 |
December 12, 2024 |  | January 1, 2025 |  | January 15, 2025 |  | 4.593 | % |  | $ | 30.16 |  |  | $ | 18,095 |
March 19, 2025 |  | April 1, 2025 |  | April 15, 2025 |  | 4.329 | % |  | $ | 32.07 |  |  | $ | 19,243 |
June 18, 2025 |  | July 1, 2025 |  | July 15, 2025 |  | 4.298 | % |  | $ | 29.39 |  |  | $ | 15,578 |
September 18, 2025 |  | October 1, 2025 |  | October 15, 2025 |  | 4.291 | % |  | $ | 29.37 |  |  | $ | 15,568 |
December 16, 2025 |  | January 1, 2026 |  | January 15, 2026 |  | 3.985 | % |  | $ | 28.58 |  |  | $ | 14,619 |
March 18, 2026 |  | April 1, 2026 |  | April 15, 2026 |  | 3.661 | % |  | $ | 27.74 |  |  | $ | 8,751 |
(1) The distribution rate was 10.00% (equal to $100.00 per every 1,000 in unit value per year).

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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 + Details
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