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Kinetik Holdings Inc. (NYSE:KNTK) ("Kinetik" or the "Company") announced today the pricing of an upsized underwritten secondary offering of 6,500,000 shares of its Class A common stock (the "Offering") by Apache Midstream LLC (the "Selling Stockholder"), a subsidiary of Apache Corporation, at a price of $31.50 per share. 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. The Offering was upsized from the previously announced 6,000,000 shares based on strong investor demand. The Selling Stockholder has granted to the underwriters a 30-day option to purchase up to an additional 975,000 shares of Kinetik's Class A common stock.
In connection with the Offering, certain of the Company's officers and directors, including the Chief Executive Officer, have agreed to purchase an aggregate of 63,492 shares of Class A common stock from the underwriters at the public offering price.
Posted In: KNTK
