EQT Announces Public Offering Of Common Stock By Selling Shareholders
EQT Corporation has initiated a public offering of 10,973,685 shares of common stock, with selling shareholders from its acquisition of Alta Resources Development, LLC's subsidiaries. The underwriters have a 30-day option to purchase an additional 1,646,051 shares. EQT will not sell any shares or receive proceeds from this transaction. Citigroup and RBC Capital Markets are managing the offering, which is subject to market conditions. The offering is detailed in a prospectus filed with the SEC.
- Offering size of 10,973,685 shares may indicate strong shareholder interest.
- Potential for additional shares (1,646,051) could enhance liquidity.
- EQT will not benefit financially from the sale, limiting growth capital.
- The offering may lead to dilution of existing shareholder value.
PITTSBURGH, Nov. 18, 2021 /PRNewswire/ -- EQT Corporation (NYSE: EQT) (the Company or EQT) today announced the commencement of an underwritten public offering of 10,973,685 shares of its common stock by certain shareholders who received the shares as a part of the Company's acquisition of Alta Resources Development, LLC's upstream and midstream subsidiaries (the Offering). Such selling shareholders intend to grant the underwriters a 30-day option to purchase up to an additional 1,646,051 shares of the Company's common stock. EQT will not sell any shares of its common stock in the Offering and will not receive any proceeds from the sale of the shares being offered by the selling shareholders. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed.
Citigroup and RBC Capital Markets are acting as joint book-running managers for the Offering. The Offering will be made only by means of a prospectus supplement and the accompanying base prospectus, which was filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission (the SEC) on Form S-3. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the Offering, as well as copies of the final prospectus supplement once available, may be obtained on the SEC's website at www.sec.gov or from: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: (800) 831-9146; or RBC Capital Markets, LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, New York 10281, telephone: (877) 822-4089, email: equityprospectus@rbccm.com.
This news release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities, nor shall there be any sale of these 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.
Investor Contact:
Andrew Breese
Director, Investor Relations
412.395.2555
ABreese@eqt.com
About EQT Corporation
EQT Corporation is a leading independent natural gas production company with operations focused in the cores of the Marcellus and Utica Shales in the Appalachian Basin. We are dedicated to responsibly developing our world-class asset base and being the operator of choice for our stakeholders. By leveraging a culture that prioritizes operational efficiency, technology and sustainability, we seek to continuously improve the way we produce environmentally responsible, reliable and low-cost energy. We have a longstanding commitment to the safety of our employees, contractors, and communities, and to the reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day – trust, teamwork, heart, and evolution are at the center of all we do.
Cautionary Statements
This news release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Statements that do not relate strictly to historical or current facts are forward-looking. Statements regarding the Offering, including the size thereof, are forward-looking statements and are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed in such forward-looking statements. These risks and uncertainties include, but are not limited to, the ability to complete the Offering on favorable terms, if at all, and general market conditions that might affect the Offering. Other risks relating to the Company are described under Item 1A, "Risk Factors," and elsewhere in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 and other documents the Company files from time to time with the SEC. In addition, the Company may be subject to currently unforeseen risks that may have a materially adverse impact on it. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE EQT Corporation (EQT-IR)
FAQ
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