Tiger Brokers

BUZZ-ONE Gas slips after announcing stock offering

Reuters
May 09, 2025
BUZZ-ONE Gas slips after announcing stock offering

** 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

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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