Financial Advisor
Ovintiv Inc.
Equity Capital Markets
Secondary Offering
Transaction Details
On September 11, 2023, Ovintiv Inc. (the “Company”) announced the pricing of an underwritten public offering of 15,000,000 secondary shares of its common stock for gross proceeds of approximately $684.8 million
- The offering consisted entirely of secondary shares offered by NMB Stock Trust, a Delaware statutory trust
- Ovintiv will not receive any proceeds from the sale of shares in the offering
In addition, Ovintiv has agreed to purchase from the underwriter, out of the 15,000,000 shares that are the subject of the offering, 1,000,000 shares of the Company's common stock at a price per share equal to the price at which the underwriter will purchase the shares from NMB Stock Trust in the offering
About the company
Ovintiv (NYSE: OVV) (TSX: OVV) is a leading North American oil and natural gas exploration and production company focused on developing its multi-basin portfolio of top-tier oil and natural gas assets located in the United States and Canada. Ovintiv’s operations also include the marketing of oil, NGLs and natural gas.
Sources: Company filings and press release.
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For a printable version of this announcement, click here.The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from the Securities and Exchange Commission’s website at www.sec.gov at the following link: https://www.sec.gov/Archives/edgar/data/1792580/000119312523232576/d481369d424b7.htm. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.
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