Shares of Kinetik Holdings were trading lower in Monday’s after-hours market, following news of that Apache Midstream LLC planned a secondary public offering of 6 million shares of Kinetik Class A common stock.
After the bell, Kinetik shares were 6.2% lower, at $32.20. The stock closed the day’s regular session with a 1.1% loss, finishing at $34.31.
Kinetik said it isn’t selling any shares of Class A common stock in the offering and will not receive any proceeds.