Summary
Kinder Morgan, Inc. (KMI) filed an 8-K on June 12, 2012, to report a material definitive agreement related to an Underwriting Agreement. This agreement, dated June 6, 2012, facilitated the sale of 63 million shares of Class P common stock by certain Selling Stockholders. The offering generated substantial proceeds of approximately $1.999 billion for the Selling Stockholders, after accounting for underwriting discounts. It is important to note that Kinder Morgan, Inc. itself, nor its management, sold any shares in this offering, and the company did not receive any of the proceeds. The filing also specifies that the shares were registered under an existing Form S-3 registration statement that became effective earlier in the year.
Key Highlights
- 1Kinder Morgan (KMI) entered into an Underwriting Agreement on June 6, 2012.
- 2The agreement involved the sale of 63,000,000 shares of Class P common stock by Selling Stockholders.
- 3The total net proceeds to the Selling Stockholders amounted to approximately $1.999 billion.
- 4Kinder Morgan, Inc. and its management did not sell any shares in this transaction.
- 5The company did not receive any proceeds from this stock sale.
- 6The shares were sold under a previously effective Form S-3 registration statement.
- 7Barclays Capital Inc. acted as the sole underwriter for the offering.