Kinetik Holdings Inc. (NASDAQ: KNTK) (“
Kinetik” or
the “
Company”) announced today the closing of the
upsized underwritten secondary offering of 4,000,000 shares of its
Class A common stock (the “
Offering”) by Apache
Midstream LLC (the “
Selling Stockholder”), a
subsidiary of Apache Corporation, at a price of $58.00 per share,
which includes the full exercise of the underwriter’s option to
purchase 521,739 additional shares of Kinetik’s Class A common
stock. Kinetik did not sell any shares of Class A common stock in
the Offering and did not receive any proceeds from the sale of
shares by the Selling Stockholder.
BofA Securities, J.P. Morgan and Morgan Stanley acted as joint
lead book-running managers for the Offering. Barclays, Citigroup,
Credit Suisse, Goldman Sachs & Co. LLC, Mizuho Securities, RBC
Capital Markets, TD Securities, Truist Securities and Wells Fargo
Securities acted as joint book-running managers for the Offering.
Capital One Securities, MUFG and Scotiabank acted as co-managers
for the Offering.
The Offering was made only by means of a prospectus supplement.
When available, a copy of the final prospectus supplement and the
accompanying base prospectuses may be obtained from BofA
Securities, Attention: Prospectus Department, NC1-004-03-43, 200
North College Street, 3rd Floor, Charlotte, NC 28255-001, or by
email at dg.prospectus_requests@bofa.com; J.P. Morgan Securities
LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, telephone: 1-866-803-9204, or by email at
prospectus-eq_fi@jpmchase.com; or Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014.
A registration statement relating to these securities has been
filed with and declared effective by the U.S. Securities and
Exchange Commission.
This news release does not constitute an offer to sell, or a
solicitation of an offer to buy, any securities, nor shall there be
any sale of any securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Kinetik Holdings Inc.
Kinetik is a fully integrated, pure-play, Permian-to-Gulf Coast
midstream C-corporation operating in the Delaware Basin. Kinetik is
headquartered in Midland, Texas and has a significant presence in
Houston, Texas. Kinetik provides comprehensive gathering,
transportation, compression, processing and treating services for
companies that produce natural gas, natural gas liquids, crude oil
and water. Kinetik posts announcements, operational updates,
investor information and press releases on its website,
www.kinetik.com.
Forward-looking statements
This news release includes certain statements that may
constitute “forward-looking statements” for purposes of the federal
securities laws. Forward-looking statements include, but are not
limited to, statements that refer to projections, forecasts or
other characterizations of future events or circumstances,
including any underlying assumptions. The words “anticipate,”
“believe,” “continue,” “could,” “estimate,” “expect,” “intends,”
“may,” “might,” “plan,” “seeks,” “possible,” “potential,”
“predict,” “project,” “prospects,” “guidance,” “outlook,” “should,”
“would,” “will,” and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. These statements
include, but are not limited to, statements about the Company’s
future plans, expectations, and objectives for the Company’s
operations, including statements about strategy, synergies, and
future operations. While forward-looking statements are based on
assumptions and analyses made by us that we believe to be
reasonable under the circumstances, whether actual results and
developments will meet our expectations and predictions depend on a
number of risks and uncertainties which could cause our actual
results, performance, and financial condition to differ materially
from our expectations. See “Risk Factors” in the prospectus
supplement relating to the Offering for a discussion of risk
factors related to Kinetik. Also see Part I, Item 1A “Risk Factors”
in Altus Midstream Company’s 2021 Annual Report (predecessor to
Kinetik) for a discussion of risk factors related to the Company.
Any forward-looking statement made by us in this news release
speaks only as of the date on which it is made. Factors or events
that could cause our actual results to differ may emerge from time
to time, and it is not possible for us to predict all of them. We
undertake no obligation to publicly update any forward-looking
statement, whether as a result of new information, future
development, or otherwise, except as may be required by law.
Contacts |
|
Kinetik
Media: |
(713)
487-4838 |
Jim
Schwartz |
Kinetik Investors: |
(713) 487-4832 |
Maddie Wagner |
Websites: www.kinetik.com |
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