Kinetik Holdings announced the commencement of an underwritten secondary offering of 11,373,801 shares of its Class A common stock by Apache Midstream LLC, a subsidiary of Apache Corporation. Kinetik is not selling any shares of Class A common stock in the Offering and will not receive the proceeds from any sale of shares by the Selling Stockholder. In connection with the Offering, the Selling Stockholder intends to grant to the underwriters a 30-day option to purchase up to an additional 1,706,070 shares of Kinetik’s Class A common stock. In connection with the Offering, the company’s CEO has provided an indication of interest in purchasing shares of Class A common stock from the underwriters at the public offering price. Goldman Sachs & Co., BofA Securities, J.P. Morgan and Mizuho are acting as joint lead book-running managers for the offering.
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