Hess Midstream Shares Tumble 10%; Announces Upsize Of Underwritten Public Offering

Shares of mid-stream energy company Hess Midstream LP (HESM) are trading down 10 percent in the Wednesday market after the company upsized an earlier announced underwritten public offering of Class A shares.

In the recent development, Hess Midstream upsized the previously announced 6 million Class A shares to an aggregate 7.5 million shares representing limited partner interests in HESM by a subsidiary of Hess Corp. and an affiliate of Global Infrastructure Partners at a public offering price of $26 per Class A share.

Currently at $25.96, the stock has traded between $14.95 and $30.34 during the past 52 weeks.

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