I got a knot in my chest reading that arc, but to be clear: no, 'Midnight' (Nemuri Kayama) does not die in the manga timeline I followed. She takes part in the brutal clashes around the Paranormal Liberation War and ends up badly hurt — it’s the kind of scarred, heavy fallout that the story leans into to show how costly these battles are for pro heroes. Her injuries and the psychological fallout are portrayed as serious; she’s rendered unable to perform like she used to for a while, and that has consequences for her role around students and public hero work.
The narrative treats her survival as part of the messy, painful aftermath: not a triumphant comeback, but a realistic one where recovery, trauma, and shifting responsibilities matter. The anime adaptation covers a lot of this too, though sometimes with different pacing and emphasis. I felt a real sting seeing how the story handled her — it isn’t about spectacle so much as the human toll, and that left me quietly impressed and a little sad.