Hess Midstream LP Announces Pricing of Secondary Public Offering of Class A Shares
17 May 2023 - 11:01AM
Business Wire
Hess Midstream LP (NYSE: HESM) (“HESM”) today announced the
pricing of an underwritten public offering of an aggregate
11,100,000 Class A shares representing limited partner interests in
HESM by a subsidiary of Hess Corporation and an affiliate of Global
Infrastructure Partners (the “Selling Shareholders”), at a public
offering price of $27.00 per Class A share. The Selling
Shareholders have granted the underwriters a 30-day option to
purchase up to 1,665,000 additional Class A shares at the public
offering price less underwriting discounts and commissions.
The gross proceeds from the sale of Class A shares by the
Selling Shareholders are expected to be approximately $300 million.
HESM will not receive any proceeds from the sale of Class A shares
in the offering. The offering is expected to close on May 19, 2023,
subject to customary closing conditions.
Morgan Stanley and J.P. Morgan are acting as joint bookrunning
managers of the offering.
The offering of these securities is being made only by means of
the prospectus supplement and accompanying base prospectus as filed
with the Securities and Exchange Commission (the “SEC”). Copies of
the prospectus supplement and accompanying base prospectus relating
to the offering may be obtained free of charge on the SEC’s website
at www.sec.gov under HESM’s name or from the underwriters of the
offering as follows:
Morgan Stanley & Co. LLC Attn: Prospectus
Department 180 Varick Street, 2nd Floor New York, New York 10014
J.P. Morgan Securities LLC c/o Broadridge Financial Solutions, 1155
Long Island Avenue Edgewood, New York 11717 Telephone:
1-866-803-9204 Email: prospectus-eq_fi@jpmchase.com
The Class A shares are being offered and will be sold pursuant
to an effective shelf registration statement that was previously
filed with the SEC. This press release shall not constitute an
offer to sell or a solicitation of an offer to buy the securities
described above, nor shall there be any sale of these securities in
any state or jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction. The offering
is being made only by means of a prospectus and related prospectus
supplement meeting the requirements of Section 10 of the Securities
Act of 1933, as amended.
About Hess Midstream LP
HESM is a fee-based, growth-oriented midstream company that
owns, operates, develops and acquires a diverse set of midstream
assets to provide services to Hess Corporation and third-party
customers. HESM owns oil, gas and produced water handling assets
that are primarily located in the Bakken and Three Forks Shale
plays in the Williston Basin area of North Dakota.
Forward Looking Statements
This press release contains “forward-looking statements” within
the meaning of U.S. federal securities laws. Words such as
“anticipate,” “estimate,” “expect,” “forecast,” “guidance,”
“could,” “may,” “should,” “would,” “believe,” “intend,” “project,”
“plan,” “predict,” “will,” “target” and similar expressions
identify forward-looking statements, which are not historical in
nature. Forward-looking statements are subject to certain known and
unknown risks and uncertainties that could cause actual results to
differ materially from our historical experience and our current
projections or expectations of future results expressed or implied
by these forward-looking statements. You should keep in mind the
risk factors and other cautionary statements in the filings made by
HESM with the SEC, which are available to the public. HESM
undertakes no obligation to, and does not intend to, update these
forward-looking statements to reflect events or circumstances
occurring after this press release. You are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20230516006095/en/
Investor Contact: Jennifer Gordon (212)
536-8244
Media Contact: Robert Young (713)
496-6076
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