Altus Midstream Announces Registration of Class A Common Stock and Warrants

HOUSTON, Dec. 17, 2018 (GLOBE NEWSWIRE) — Altus Midstream Company (Nasdaq: ALTM, ALTMW) today announced that on Dec. 14, 2018, the Securities and Exchange Commission declared effective the company’s registration statement on Form S-3 (File No. 333-228467) (the “registration statement”), which registers for resale by the selling securityholders named therein (the “selling securityholders”) 360,531,332 shares of the company’s Class A Common Stock and 6,364,281 warrants issued in private placements, each of which represents the right to purchase one share of the company’s Class A Common Stock. The registration statement also registers for issuance by the company an additional 12,557,370 shares of the company’s Class A Common Stock issuable upon exercise of the company’s public warrants.

Following effectiveness of the registration statement, all of the company’s outstanding securities, comprised of 74,929,305 shares of Class A Common Stock and 18,921,651 warrants, are freely tradable securities.

“We are pleased with the timely registration of the shares underlying Altus Midstream’s PIPE offering, which was the largest SPAC-associated PIPE ever completed relative to IPO size. This PIPE offering demonstrated widespread institutional support for our company vision, strategy and corporate structure,” said Brian Freed, Altus Midstream CEO and president. “We are also pleased with Alerian’s announcement that, after the close of business December 21, Altus Midstream will be included in two of Alerian’s indices: the Alerian Midstream Energy Index (AMNA) and the Alerian US Midstream Energy Index (AMUS). Alerian’s benchmarks are widely used by investment professionals, analysts, news media and industry.”

The registration of the shares of Class A Common Stock and warrants covered by the registration statement for resale by the selling securityholders does not mean that any of such shares or warrants will be offered or sold by such selling securityholders. Nor does the registration of the shares of Class A Common Stock covered by the registration statement for issuance by the company upon exercise of the company’s public warrants mean that any of the holders of such warrants will exercise their warrants or that any shares of the company’s Class A Common Stock issued upon exercise of such warrants will be offered or sold by the holders thereof.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A copy of the final prospectus included in the registration statement may be obtained from Altus Midstream Company, 2000 Post Oak Boulevard, Suite 100, Houston, Texas 77056-4400; Attention: Investor Relations.

About Altus Midstream Company

Altus Midstream Company is a pure-play, Permian Basin midstream C-corporation. Altus Midstream and/or its subsidiaries own substantially all of the gas gathering, processing and transportation assets servicing Apache Corporation’s production in the Alpine High play in the Delaware Basin. Altus Midstream posts announcements, operational updates, investor information and press releases on its website, www.altusmidstream.com.

Forward-looking statements

This news release includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “seeks,” “possible,” “potential,” “predict,” “project,” “guidance,” “outlook,” “should,” “would,” “will,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about expectations regarding the possible offer and sale from time to time in the future of the shares of Class A Common Stock and warrants covered by the registration statement. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See “Risk Factors” in our Definitive Proxy Statement filed with the Securities and Exchange Commission on October 22, 2018 for a discussion of risk factors that affect our business. Any forward-looking statement made by us in this news release speaks only as of the date of this news release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law.