Hess Midstream LP Announces Secondary Public Offering Of 10M Class A Shares
Portfolio Pulse from Benzinga Newsdesk
Hess Midstream LP (HESM) announced a secondary public offering of 10 million Class A shares by an affiliate of Global Infrastructure Partners. The offering includes an option for underwriters to purchase up to an additional 1.5 million shares. HESM will not receive any proceeds from this sale. Citigroup is the bookrunning manager for the offering, which will be made available through various market transactions. The offering is detailed in a prospectus supplement and base prospectus filed with the SEC.
February 05, 2024 | 9:22 pm
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Hess Midstream LP announced a secondary public offering of 10 million Class A shares, with Citigroup managing the offering. HESM will not receive any proceeds from the sale.
Secondary offerings often lead to a dilution of existing shares, which can negatively impact the stock price in the short term. Although HESM is not receiving proceeds, the increase in available shares could pressure the stock price.
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