ONE Gas Prices Public Offering Of 2.50 Mln Shares For About Gross Proceeds Of $197.50 Mln

ONE Gas

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(RTTNews) - ONE Gas Inc. (OGS) announced that it has priced its public offering of 2.50 million shares of its common stock for approximate gross proceeds of $197.50 million.

In connection with the offering, ONE Gas entered into a forward sale agreement with JPMorgan Chase Bank, National Association, referred to in such capacity as the forward purchaser.

In connection with the forward sale agreement, the forward purchaser or its affiliate, acting as forward seller, at ONE Gas' request, is borrowing from third parties and selling 2,500,000 shares of ONE Gas' common stock to the underwriter in the offering in connection with the forward sale agreement.

As part of the offering, ONE Gas has granted to the underwriter an option to purchase up to 375,000 additional shares of ONE Gas' common stock. If such option is exercised, ONE Gas may, in its sole discretion, enter into an additional forward sale agreement with the forward purchaser with respect to such additional shares, and ONE Gas currently expects that, if such option is exercised, it will do so. The offering is expected to close on May 12, 2025.