DENVER, Sept. 11,
2023 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) ( TSX:
OVV) (the "Company") today announced the pricing of an
underwritten public offering of 15,000,000 shares of its common
stock by NMB Stock Trust, a Delaware statutory trust (the "Selling
Stockholder"), for gross proceeds of approximately US$684.8 million (the "Offering"). The Company
will not sell any shares of its common stock in the Offering and
will not receive any proceeds from the sale of the shares in the
Offering. The Offering is expected to close on September 13, 2023, subject to customary closing
conditions.
J.P. Morgan is acting as underwriter for this Offering. The
shares will be sold in a registered offering pursuant to an
effective automatic shelf registration statement on Form S-3 that
was previously filed with the U.S. Securities and Exchange
Commission (the "SEC"), a prospectus and a related prospectus
supplement. A copy of the prospectus relating to the securities can
be obtained from J.P. Morgan Securities LLC, via Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: (866)
803-9204, email: prospectus-eq_fi@jpmchase.com. The documents may
also be accessed by visiting the SEC's website at www.sec.gov.
In addition, the Company 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 the Selling Stockholder in the offering.
The Offering is not conditioned upon the closing of the repurchase,
but the repurchase is conditioned upon the closing of the
Offering.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor will there be
any sale of any securities in any state or jurisdiction in which
such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
ADVISORY REGARDING FORWARD-LOOKING STATEMENTS - This news
release contains forward-looking statements or information
(collectively, "forward-looking statements") within the meaning of
applicable securities legislation, including Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements, except
for statements of historical fact, that relate to the anticipated
future activities, plans, strategies, objectives or expectations of
the Company are forward-looking statements. Readers are cautioned
against unduly relying on forward-looking statements, which are
based on current expectations and, by their nature, involve
numerous assumptions that are subject to both known and unknown
risks and uncertainties (many of which are beyond our control) that
may cause such statements not to occur, or actual results to differ
materially and/or adversely from those expressed or implied. Risks
and uncertainties that may affect the Company's financial or
operating performance include those described in "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" sections of the Company's most recent Annual
Report on Form 10-K and the Company's Quarterly Report on Form
10-Q; and other risks and uncertainties impacting the Company's
business as described from time to time in the Company's filings
with the SEC or Canadian securities regulators. Readers are
cautioned that the assumptions, risks and uncertainties referenced
above are not exhaustive. Although the Company believes the
expectations represented by its forward-looking statements are
reasonable based on the information available to it as of the date
such statements are made, forward-looking statements are only
predictions and statements of our current beliefs and there can be
no assurance that such expectations will prove to be correct.
Unless otherwise stated herein, all statements, including forward
looking statements, contained in this news release are made as of
the date of this news release and, except as required by law, the
Company undertakes no obligation to update publicly, revise or keep
current any such statements The forward-looking statements
contained in this news release and all subsequent forward-looking
statements attributable to the Company, whether written or oral,
are expressly qualified by these cautionary statements.
Further information on Ovintiv Inc. is available by
contacting:
Investor contact: (888)
525-0304
investor.relations@ovintiv.com
Media contact: (403) 645-2252
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SOURCE Ovintiv Inc.
