- Hess Midstream LP (HESM, Financial) has priced a secondary public offering of 15,022,517 Class A shares at $37.25 each.
- The offering is expected to raise $559.59 million in gross proceeds for the selling shareholder, Global Infrastructure Partners, a part of BlackRock.
- No proceeds from the sale will be received by HESM. The transaction is anticipated to close on May 30, 2025.
Hess Midstream LP (HESM) has announced the pricing of its secondary public offering, involving the sale of 15,022,517 Class A shares by an affiliate of Global Infrastructure Partners, associated with BlackRock. Each share is priced at $37.25, amounting to total gross proceeds of approximately $559.59 million for the selling shareholder. The company itself, HESM, will not receive any proceeds from this transaction.
J.P. Morgan and Citigroup are serving as the joint bookrunning managers for this offering. The sale of these securities will proceed under a shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC).
The transaction closure is subject to customary conditions and is expected to be finalized by May 30, 2025. Investors can access the prospectus supplement and the accompanying base prospectus on the SEC's website or through contact with J.P. Morgan or Citigroup for further details.
Hess Midstream LP is a growth-oriented midstream company headquartered in Houston, USA. The company owns and operates various midstream assets concentrated in the Bakken and Three Forks Shale plays located in the Williston Basin area of North Dakota, offering services primarily to Hess Corporation and third-party customers.
