Hess Midstream LP Announces Secondary Public Offering Of 10M Class A Shares
Portfolio Pulse from Happy Mohamed
Hess Midstream LP (HESM) has announced the commencement of an underwritten public offering of 10 million Class A shares by an affiliate of Global Infrastructure Partners. The affiliate also intends to grant underwriters a 30-day option to purchase up to 1.5 million additional Class A shares. HESM will not receive any proceeds from the sale. Goldman Sachs & Co. LLC is the bookrunning manager of the offering.
August 15, 2023 | 8:16 pm
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Hess Midstream LP is offering 10 million Class A shares, which could dilute the value of existing shares. However, the company will not receive any proceeds from the sale.
The offering of 10 million Class A shares could dilute the value of existing shares, potentially leading to a decrease in the stock price. However, as HESM will not receive any proceeds from the sale, the financial impact on the company itself may be limited.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100