ONE Gas slips after announcing stock offering
ReutersMay 8, 2025 9:17 PM
Shares of ONE Gas OGS.N down 1% in extended trading to $78.90 after equity offering news
Tulsa, Oklahoma-based natural gas utility announces 2 mln share offering
Co enters into forward sale agreement with sole underwriter JP Morgan
Upon settlement of forward sale agreement, expected to occur no later than Dec 31, 2016, co to use net proceeds for general purposes, including debt repayment/refinancing, construction and acquisition expenditures
With ~59.9 mln shares outstanding, co has $4.8 bln market cap, according to LSEG data
OGS closed down 2.1% at $79.71 on Thurs. Stock is up 15% YTD and nearly 25% over the past 12 months
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