Kinetik Holdings Inc. (KNTK) disclosed on Thursday that Apache Midstream LLC, a subsidiary of Apache Corporation, priced a secondary offering of 11,373,801 Class A shares at $33.75 per share. Apache Midstream also allocated underwriters a 30-day opportunity to buy up to an additional 1,706,070 Class A shares if needed.
Additionally, the CEO of the company has agreed to acquire a total of 14,814 Class A shares from the underwriters at the public offering price. Kinetik has clarified that it won't be selling any shares in this offering and will not gain any income from the sales made by the selling shareholder.
