Kinetik Holdings Inc. (KNTK) on Thursday announced the pricing of a secondary offering of 11,373,801 Class A shares by Apache Midstream LLC, a subsidiary of Apache Corporation, at a price of $33.75 per share.
Apache Midstream has granted underwriters a 30-day option to purchase up to an additional 1,706,070 Class A shares.
In connection with the offering, the company's Chief Executive Officer has agreed to purchase a total of 14,814 Class A shares from the underwriters at the public offering price.
Kinetik noted that it is not selling any shares in the offering and will not receive the proceeds from any sale of shares by the selling stockholder.
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