Hess Midstream LP Announces Pricing Of $288M Secondary Public Offering Of 10M Class A Shares At A Price Of $28.80/Share
Portfolio Pulse from Happy Mohamed
Hess Midstream LP (HESM) has announced the pricing of a secondary public offering of 10 million Class A shares at $28.80 per share, which will be sold by an affiliate of Global Infrastructure Partners. The gross proceeds from the sale are expected to be $288 million. HESM will not receive any proceeds from the sale. The offering is expected to close on August 17, 2023.
August 16, 2023 | 4:19 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Hess Midstream LP's secondary public offering of 10 million Class A shares could potentially dilute the value of existing shares, impacting the stock price.
Secondary public offerings often lead to dilution of existing shares, which can negatively impact the stock price. However, the actual impact will depend on market reaction to the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100