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AI brief of an SEC Form 8-K · DT Midstream (DTM)

DT Midstream Closes Stock Offering With $405.5 Million in Net Proceeds for ONEOK Pipeline Deal

Neutral Impact 4 of 5 financing Written later

DT Midstream sold 3,625,000 common shares at $101.000 each, and underwriters exercised in full their option for 543,750 more shares; the offering closed November 21, 2024. The company reports approximately $405,542,219 in net proceeds, which it intends to use to fund its pending acquisition of Guardian Pipeline, Midwestern Gas Transmission and Viking Gas Transmission from ONEOK, so shareholders face a larger share count while the company adds these pipelines.

Key points

  • 3,625,000 shares priced at $101.000 per share to the public; underwriters agreed to buy them at $97.465 per share
  • Underwriters exercised their 30-day option for 543,750 additional shares in full on November 20, 2024
  • Net proceeds of approximately $405,542,219 after underwriting discounts and estimated offering expenses; offering closed November 21, 2024
  • Proceeds intended for the pending ONEOK pipeline acquisition; the company and its executive officers and directors agreed to a 45-day lock-up on share sales

The filing

CompanyDT Midstream (DTM)
Form8-K, current report
Filed with the SECNov 21, 2024, 4:08 PM ET
Accession number0001140361-24-047475

Items reported: 1.01 Material Definitive Agreement8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 21, 2024.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.