DT Midstream dips after $366 mln stock offering to fund acquisition of pipelines
** Shares of pipeline operator DT Midstream DTM.N fall as much as 2.4%; last down 1.5% at $101.47 in early trading
** DTM prices follow-on public offering at $101/shr for gross proceeds of $366.1 mln
** Offering size boosted from previously announced $300 mln, priced at 2% discount to stock's last close
** DTM plans to use the funds along with proceeds from expected $650 mln bond sales, borrowings and cash on hand to pay for the acquisition of three natgas pipelines from ONEOK OKE.N for $1.2 bln
** Barclays Capital was the lead book-running manager for the offering, while J.P. Morgan, PNC Capital Markets, Wells Fargo Securities, TD Securities, Citigroup and BofA Securities were joint book-running managers
** DTM has 97.2 mln outstanding shares for $10 bln market capitalization - LSEG data
** As of last close, DTM shares up 88% YTD
Reporting by Arasu Kannagi Basil in Bengaluru
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