SemGroup Corp. filed to sell up to 12,383,900 shares of its class A common stock for a proposed maximum offering price of $28.50 per share or $352.9 million in total, according to an SEC Form filed Oct. 13.
The shares on offer belong to certain selling stockholders and were issued in connection with Semgroup's Houston Fuel Oil Terminal Co. acquisition. SemGroup will not receive any proceeds from any sale.
The selling stockholders may sell the class A common stock at various times, in varying prices and though various transactions, such as open market sales, negotiated transaction sales and sales by a combination of methods.
The proposed maximum offering price is estimated solely for the purpose of calculating the registration fee.