The U.S. Securities and Exchange Commission declared effective Altus Midstream Co.'s registration for resale of 360,531,332 class A common shares and 6,364,281 warrants.
The company also registered to issue an additional 12,557,370 of its class A common shares, issuable upon exercise of its public warrants, according to a Dec. 17 news release. Each warrant represents the right to buy one class A common share. As of the effectiveness of the company's registration, all of Altus Midstream's outstanding securities, which are composed of 74,929,305 class A common stock and 18,921,651 warrants, are freely tradable.
Altus Midstream President and CEO Brian Freed said the company would be listed in two Alerian indexes, the Alerian Midstream Energy Index and the Alerian US Midstream Energy Index, effective after the close of business Dec. 21.
Altus Midstream is a pure-play Permian Basin midstream company that owns natural gas gathering, processing and transportation assets serving Apache Corp.'s production in the Alpine High play of the Delaware Basin. Apache formed Altus Midstream through a deal with Kayne Anderson Acquisition Corp.