Ovintiv announces 15M share offering of common stock for holders

Ovintiv announced that NMB Stock Trust, a Delaware statutory trust, intends to offer for sale 15M shares of the company’s common stock, par value $0.01 per share, pursuant to the company’s shelf registration statement previously filed with the SEC. In addition, the company announced that the company intends to repurchase from the underwriter, out of the 15M shares of common stock that are subject to the Offering, 1M 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. J.P. Morgan will act as the underwriter for this Offering.