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Kinetik (KNTK) has shared an update.
Kinetik Holdings LP secured a $150 million accounts receivable securitization facility to boost liquidity and support its business operations. This financial move involves selling receivables to ensure ongoing funding, with the facility set to terminate in April 2025 unless ended sooner. Additionally, the company underwent board changes with Ben Rodgers resigning and William Ordemann joining as a director, bringing new expertise to the governance team. These strategic actions, including the financial structuring and board realignment, are designed to strengthen Kinetik’s market position and are detailed in recent press releases.
For detailed information about KNTK stock, go to TipRanks’ Stock Analysis page.