TULSA, Okla., Jan. 4, 2018 /PRNewswire/ -- ONEOK, Inc.
(NYSE: OKE) today announced that it priced its previously announced
public offering of 19 million shares of its common stock. ONEOK
expects gross proceeds from the offering, before deducting offering
expenses, will total approximately $1.0355
billion.
ONEOK also granted the underwriters a 30-day over-allotment
option to purchase up to 2.85 million additional shares.
ONEOK expects to use the net proceeds from the offering to fund
capital expenditures, including a portion of its recently announced
natural gas liquids growth projects, to pre-fund additional
projects which are in the late stages of development, and for
general corporate purposes, which may include repaying a portion of
outstanding indebtedness.
Credit Suisse, Barclays, Goldman Sachs & Co. LLC, Morgan
Stanley and Wells Fargo Securities are acting as joint book-running
managers for the offering. BofA Merrill Lynch, BB&T Capital
Markets, Deutsche Bank Securities, PNC Capital Markets LLC and J.P.
Morgan are acting as co-managers in the offering.
The underwriters intend to offer the shares from time to time
for sale in one or more transactions on the New York Stock
Exchange, in the over-the-counter market, through negotiated
transactions or otherwise at market prices prevailing at the time
of sale, at prices related to prevailing market prices or at
negotiated prices.
This offering is being made pursuant to an effective shelf
registration statement, including a base prospectus and preliminary
prospectus supplement, relating to these securities, which is on
file with and has been declared effective by the Securities and
Exchange Commission. A copy of the prospectus and prospectus
supplement may be obtained from the underwriters:
Credit Suisse Securities (USA)
LLC
Attn: Prospectus Department
Eleven Madison Avenue
New York, NY 10010
Phone: 800-221-1037
Email: newyork.prospectus@credit-suisse.com
This news release is neither an offer to sell nor a solicitation
of an offer to buy any of these securities and shall not constitute
an offer, solicitation or sale in any jurisdiction in which such
offer, solicitation or sale is unlawful.
ONEOK, Inc. (pronounced ONE-OAK) (NYSE: OKE) is one of the
largest energy midstream service providers in the U.S., connecting
prolific supply basins with key market centers. It owns and
operates one of the nation's premier natural gas liquids (NGL)
systems and is a leader in the gathering, processing, storage and
transportation of natural gas. ONEOK's operations include a
38,000-mile integrated network of NGL and natural gas pipelines,
processing plants, fractionators and storage facilities in the
Mid-Continent, Williston, Permian and Rocky Mountain regions.
ONEOK is a FORTUNE 500 company and is included in Standard &
Poor's (S&P) 500 index.
For information about ONEOK, Inc., visit the website:
www.oneok.com.
For the latest news about ONEOK, find us on LinkedIn, Facebook
or Twitter @ONEOKNews.
Some of the statements contained herein are forward-looking
statements as defined under federal securities laws. The
forward-looking statements relate to our anticipated financial
performance (including projected net income, capital expenditures,
cash flow and projected levels of dividends), liquidity,
management's plans and objectives for our future growth projects
and other future operations (including plans to construct
additional natural gas and natural gas liquids facilities and
related cost estimates), our business prospects, the outcome of
regulatory and legal proceedings, market conditions and other
matters. We make these forward-looking statements in reliance on
the safe harbor protections provided under federal securities
legislation and other applicable laws.
Forward-looking statements include the items identified in the
preceding paragraph, the information concerning possible or assumed
future results of our operations and other statements contained
herein identified by words such as "anticipate," "estimate,"
"expect," "project," "intend," "plan," "believe," "should," "goal,"
"forecast," "guidance," "could," "may," "continue," "might,"
"potential," "scheduled" and other words and terms of similar
meaning.
You should not place undue reliance on the forward-looking
statements. Known and unknown risks, uncertainties and other
factors may cause our actual results, performance or achievements
to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. Those factors may affect our operations, markets,
products, services and prices. In addition to any assumptions and
other factors referred to specifically in connection with the
forward-looking statements, factors that could cause our actual
results to differ materially from those contemplated in any
forward-looking statement include, among others, those factors
listed in the prospectus supplement for the common stock offering
under the heading "Cautionary Statement Regarding Forward-Looking
Statements."
These factors are not necessarily all of the important factors
that could cause actual results to differ materially from those
expressed in any of our forward-looking statements. Other factors
could also have material adverse effects on our future results.
These and other risks are described in greater detail under the
caption "Risk Factors" in the prospectus supplement for the common
stock offering, the accompanying base prospectus filed with the
SEC, our Annual Report on Form 10-K for the fiscal year ended
December 31, 2016 and in our other
filings that we make with the SEC, which are available via the
SEC's website at www.sec.gov and our website at www.oneok.com. All
forward-looking statements attributable to us or persons acting on
our behalf are expressly qualified in their entirety by these
factors. Any such forward-looking statement speaks only as of the
date on which such statement is made, and other than as required
under securities laws, we undertake no obligation to update
publicly any forward-looking statement whether as a result of new
information, subsequent events or change in circumstances,
expectations or otherwise.
Analyst
Contact:
|
Megan
Patterson
|
|
918-561-5325
|
Media
Contact:
|
Stephanie
Higgins
|
|
918-591-5026
|
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SOURCE ONEOK, Inc.