21 November 2023
On November 20th, 2023, Ovintiv Inc. (NYSE: OVV) announced the pricing of an upsized public secondary offering of 9.4 million of its common stock at an offering price of USD $44.35 per share by NMB Stock Trust, a Delaware statutory trust (the “Selling Stockholder”).
The offering is expected to close on November 22nd, 2023, subject to the satisfaction of customary closing conditions.
All of the shares in the offering will be sold by the Selling Stockholder.
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 9.4 million shares that are subject to the offering, approximately 1.2 million shares of company’s common stock at a price per share equal to the price at which the underwriter will purchase the shares from the Selling Stockholder in the offering.
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