WASHINGTON (dpa-AFX) - Knife River Corp. (KNF) announced the pricing of the secondary public offering of 5.14 million shares of its common stock currently owned by MDU Resources Group Inc., the company's former parent. The KNF Shares will be offered at a public offering price of $54.00 per share.
Knife River said it is not selling any shares of common stock and will not receive any proceeds from the sale of the KNF Shares in the Offering or from the debt-for-equity exchange.
The Selling Stockholder in the Offering has granted the underwriters an option to purchase up to 514,238 additional shares of Knife River common stock at the public offering price less the underwriting discount for 30 days.
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