DT Midstream (NYSE:DTM) -2.6% post-market Tuesday after saying it launched a public offering of $300M of common shares, with an underwriters option to purchase up to $45M of additional common shares.

The company said it plans to use the proceeds from the offering, combined with proceeds from an expected issuance of as much as $650 principal amount of new senior secured notes, borrowings under its revolving credit facility and cash on hand, to fund the pending $1.2B acquisition of three natural gas transmission pipelines.