ONE Gas enters into forward sale agreement for 1.2M shares at $73.67/share

ONE Gas, Inc.

Forward sale agreement with Bank of America for 1,200,000 shares of common stock at initial forward price $73.67 per share.
Settlement expected by December 31, 2024; physical settlement would involve issuing shares at the applicable forward price.
Underwriting agreement with BofA Securities for concurrent public offering of 1.2M borrowed shares; underwriter option for 180K additional shares.
The forward price is adjusted daily by overnight bank funding rate minus 0.75% spread and reduced on specified dates.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

ONE Gas, Inc. entered into Forward Sale Agreement with Bank of America, N.A. valued at 1,200,000 shares of common stock at initial forward sale price of $73.67 per share (effective 2023-09-11).

Action: entry
Agreement: equity purchase
Counterparty: Bank of America, N.A.
Value: 1,200,000 shares of common stock at initial forward sale price of $73.67 per share
Effective: 2023-09-11

Exact text from the filing

On September 11, 2023, ONE Gas, Inc. (the “ Company ”) entered into a forward sale agreement (the “ Forward Sale Agreement ”) with Bank of America, N.A. (the “ Forward Purchaser ”), relating to 1,200,000 shares of the Company’s common stock, par value $0.01 per share (the “ common stock ”).

View on SEC.gov

120 material agreements filed in the last 30 days. Browse all material agreements →

ONE Gas, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-235322

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.