Knife River announces offering of 5.14M shares of common stock for holders

Knife River Corporation announced the launch of a secondary public offering of 5.14M shares of its common stock currently owned by MDU Resources Group, the company’s former parent. Knife River is not selling any shares of common stock and will not receive any proceeds from the sale of the KNF Shares in the offering or from the debt-for-equity exchange. J.P. Morgan, Wells Fargo Securities and BofA Securities are acting as the joint lead book-runners for the Offering, and J.P. Morgan and Wells Fargo Securities are acting as representatives of the underwriters of the offering.