Summary
Kinder Morgan, Inc. (KMI) filed an 8-K on October 12, 2012, to disclose information regarding a public offering of its Class P common stock. Investment funds affiliated with Goldman Sachs & Co., The Carlyle Group, and Riverstone Holdings LLC, collectively referred to as the "Selling Stockholders," are offering 69,296,921 shares of KMI common stock at a price of $34.15 per share. The offering is expected to close on October 17, 2012. It is important for investors to note that neither KMI nor its management is selling any shares, and the company will not receive any proceeds from this offering. The sale is being conducted by the selling stockholders to divest their holdings. This filing serves as a Regulation FD disclosure, meaning the information is being made available to the public broadly. Investors should be aware that this transaction will result in the sale of a significant block of KMI shares by major private equity investors. While KMI itself is not raising capital through this offering, the sale of shares by these prominent funds could impact market perception and trading dynamics. Investors should also review KMI's other SEC filings for a comprehensive understanding of the company's financial position and future outlook.
Key Highlights
- 1Kinder Morgan, Inc. (KMI) announced an underwritten public offering of 69,296,921 shares of Class P common stock.
- 2The selling stockholders are investment funds affiliated with Goldman Sachs & Co., The Carlyle Group, and Riverstone Holdings LLC.
- 3The public offering price is set at $34.15 per share.
- 4The offering is expected to close and settle on October 17, 2012.
- 5Neither KMI nor its management is selling any shares in this offering.
- 6KMI will not receive any proceeds from the sale of shares by the Selling Stockholders.
- 7Barclays is acting as the underwriter for the offering.