Reported Earlier, Hess Midstream Prices Secondary Public Offering Of 10M Class A Shares
Portfolio Pulse from Benzinga Newsdesk
Hess Midstream (HESM) has priced a secondary public offering of 10 million Class A shares. The company will not receive any proceeds from this sale. The offering is expected to close on May 31, 2024, subject to customary closing conditions.
May 30, 2024 | 6:10 am
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Hess Midstream has announced a secondary public offering of 10 million Class A shares, with the company not receiving any proceeds from the sale. The offering is expected to close on May 31, 2024.
The secondary offering of 10 million Class A shares could lead to a dilution of existing shares, potentially putting downward pressure on the stock price in the short term. Additionally, the fact that HESM will not receive any proceeds from the sale may be viewed negatively by investors.
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