Ovintiv Inc. | Stephens

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Financial Advisor

Ovintiv Inc.

$684.8 Million 09/11/2023 Energy & Clean Energy Transition Complete
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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.
  1. This material has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. No subsequent publication or distribution of this material shall mean or imply that any such information or opinion remains current at any time after the stated date of the material. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request.

    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.

    “Stephens” (the company brand name) is a leading family-owned independent financial services firm. Stephens’ US operations are headquartered in Little Rock, AR, with strategic locations in the US and a European presence in the UK and Germany. Stephens Inc. is a Member of the New York Stock Exchange and the Securities Investor Protection Corporation and is regulated by the United States Securities and Exchange Commission and the Financial Industry Regulatory Authority. Stephens Europe Limited (Registered office: 12 Arthur Street, London, EC4R 9AB, Registered number 8817024) is authorised and regulated by the Financial Conduct Authority.

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