DT Midstream Launches $300 Million Public Stock Offering

MT Newswires Live

2024/11/20

DT Midstream (DTM) said Tuesday it started a $300 million underwritten public offering of common shares.

The underwriters will be given a 30-day option to buy up to $45 million additional shares at the public offering price, the company said.

The company said proceeds from the stock sale will be used, along with borrowings and cash on hand, to fund the previously announced deal to acquire three pipelines -- Midwestern Gas Transmission, Guardian Pipeline and Viking Gas Transmission - from ONEOK (OKE) and Border Midwestern.

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