ONE Gas enters forward sale agreement for 2.5M shares at $78.76, with greenshoe option

ONE Gas, Inc.

Forward sale agreement with JPMorgan for 2,500,000 shares at initial forward price of $78.76 per share; settlement by Dec 31, 2026.
Underwriter (J.P. Morgan) sold borrowed shares in registered offering; company granted 30-day option for up to 375,000 additional shares.
Company expects to physically settle, issuing new shares, diluting existing shareholders.
Forward price adjusts daily based on overnight bank funding rate minus 0.75% spread.
Certain events (e.g., inability to borrow shares, ownership thresholds) can trigger acceleration by JPMorgan.

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