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Connect Midstream buys 72759 Summit Midstream shares at $20.46 on 2025-08-26.
ByAinvest
Thursday, Aug 28, 2025 9:45 pm ET1min read
Summit Midstream Corp[SMC] has announced that 10% owner Connect Midstream, LLC has made two significant purchases of the company's shares. Firstly, on August 26, 2025, Connect Midstream, LLC acquired 72,759 shares at a price of $20.46 per share. Secondly, on August 27, 2025, the company purchased an additional 47,401 shares at a price of $20.50 per share.
Summit Midstream Corp [SMC] has recently seen a significant increase in its shareholding by 10% owner Connect Midstream, LLC. On August 26, 2025, Connect Midstream, LLC acquired 72,759 shares at a price of $20.46 per share. This purchase was followed by another acquisition on August 27, 2025, where the company purchased an additional 47,401 shares at a price of $20.50 per share [1].The total investment by Connect Midstream, LLC in Summit Midstream Corp's shares amounts to 120,160 shares. This acquisition represents a substantial increase in the company's beneficial ownership, as Connect Midstream, LLC is a significant player in the energy sector.
These transactions were reported under SEC Form 4, which requires companies to disclose significant transactions by insiders or beneficial owners. The reported prices are weighted average prices, indicating that the shares were acquired in multiple transactions at varying prices. The exact number of shares purchased at each price is available upon request [1].
The ownership structure of these shares is complex, with Tailwater Energy Fund III LP, Tailwater Capital LLC, and individual directors Jason Downie and Edward Herring all indirectly owning the shares through various entities. However, each of these entities has disclaimed direct beneficial ownership of the reported securities, except to the extent of their pecuniary interest [1].
The acquisitions come at a time when Summit Midstream Corp is focusing on midstream operations and infrastructure development. The increased ownership by Connect Midstream, LLC could indicate a strategic alignment or support for the company's growth plans.
Investors should monitor the developments closely, as these transactions may influence the company's future strategies and stock performance.
References:
[1] https://www.stocktitan.net/sec-filings/SMC/form-4-summit-midstream-corporation-insider-trading-activity-aba75ef1e975.html
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