Kinetik Holdings Reveals Commencement Of Secondary Offering Of 11.37M Shares Of Its Class A Common Stock By Selling Stockholder Apache Midstream
Portfolio Pulse from Benzinga Newsdesk
Kinetik Holdings announced a secondary offering of 11.37 million shares of its Class A common stock by Apache Midstream, a selling stockholder. Kinetik itself is not selling any shares and will not receive proceeds from the sale. The CEO of Kinetik has indicated an interest in purchasing shares at the public offering price.
March 13, 2024 | 8:48 pm
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Kinetik Holdings is not selling any shares nor receiving proceeds from the secondary offering of 11.37M shares by Apache Midstream, but its CEO is interested in purchasing shares.
Although Kinetik Holdings is not directly selling shares or receiving proceeds, the CEO's interest in purchasing shares could be seen as a positive signal to the market. However, since the company itself is not benefiting financially from the offering, the impact on the stock price is likely neutral in the short term.
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