Hess Midstream LP Announces Secondary Public Offering Of 10M Class A Shares
Portfolio Pulse from Benzinga Newsdesk
Hess Midstream LP has announced a secondary public offering of 10 million Class A shares. Additionally, underwriters have been granted a 30-day option to purchase an extra 1.5 million shares.
May 29, 2024 | 8:28 pm
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Hess Midstream LP is conducting a secondary public offering of 10 million Class A shares, with an option for underwriters to purchase an additional 1.5 million shares. This could lead to short-term downward pressure on the stock price due to dilution concerns.
The announcement of a secondary public offering typically leads to concerns about share dilution, which can result in short-term downward pressure on the stock price. The additional option for underwriters to purchase more shares further adds to this potential dilution.
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