ONE Gas stock offering and forward sale agreement
The shares are listed on the NYSE
Davis Polk advised the forward purchaser and the forward seller in connection with the execution of a forward sale agreement relating to 2,500,000 shares of ONE Gas, Inc.’s common stock in connection with an SEC-registered offering of 2,500,000 shares of such common stock. In connection with the forward sale agreement, the forward purchaser or its affiliate borrowed 2,500,000 shares of ONE Gas common stock from third parties and sold these shares to the sole underwriter.
ONE Gas provides natural gas distribution services to approximately 2.3 million customers. It is the largest natural gas distributor in Oklahoma and Kansas and the third largest in Texas, in terms of customers. ONE Gas primarily serves residential, commercial and transportation customers in all three states. Its shares are listed on the NYSE under the symbol “OGS.”
The Davis Polk equity derivatives team included partner Mark J. DiFiore and associate Richard Stockton Bullitt. All members of the Davis Polk team are based in the New York office.