Summary
Kinder Morgan, Inc. (KMI) filed an 8-K on August 10, 2012, to disclose the pricing of an underwritten public offering of its Class P common stock. Investment funds affiliated with Goldman, Sachs & Co., The Carlyle Group, and Riverstone Holdings LLC are selling 58,000,000 shares at a public offering price of $34.75 per share. This transaction is significant for investors as it represents a substantial sale of shares by major stockholders, not by the company itself. Therefore, KMI will not receive any proceeds from this offering, and its management is not selling shares. The offering is expected to close on August 15, 2012, with an option for underwriters to purchase up to an additional 8,700,000 shares. Barclays and Deutsche Bank Securities are acting as the underwriters.
Key Highlights
- 1Major stockholders (Goldman Sachs, Carlyle Group, Riverstone Holdings) are selling 58,000,000 shares of KMI Class P common stock.
- 2The public offering price is set at $34.75 per share.
- 3Kinder Morgan, Inc. (KMI) itself is not selling any shares and will not receive any proceeds from this offering.
- 4The offering is expected to close on August 15, 2012.
- 5Underwriters have an option to purchase up to an additional 8,700,000 shares.
- 6Barclays and Deutsche Bank Securities are the underwriters for this offering.