Columbia Pipeline’s 51M Share/Stock Offering Aims to Raise $892.5M

Yesterday MDN told you that Columbia Pipeline Group, a major player in the Marcellus/Utica midstream, announced a stock offering of 51 million shares (see Columbia Pipeline Group Floats 51M Shares of New Stock). We speculated if they got the then-current price of $19.03 per share, they’d haul in close to $1 billion in new revenue. Of course stock offerings like this almost never receive the existing/going price. We also said if they got $15 a share, that would net them $756 million. We now know, a day later, what they’re aiming for: $17.50 per share, which will bring in $892.5 million…

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