Ovintiv discloses secondary offering of 9.4M shares by selling stockholder; repurchases 1.2M shares for $53M

Ovintiv Inc.

Selling stockholder NMB Stock Trust offered 9,400,000 shares of common stock received as consideration for Permian Basin assets acquired from EnCap.
Company repurchased 1,204,545 shares from underwriter at offering price for aggregate ~$53 million concurrently with closing.
Company did not sell any shares in the offering and received no proceeds from sale of shares by selling stockholder.
Underwriting agreement with Goldman Sachs & Co. LLC contains customary representations, indemnities, and closing conditions.

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