Williams (NYSE: WMB) (“Williams”) today announced the closing of its
previously announced public offering of 65 million shares of Williams
common stock at $29.00 per share.
Williams has granted the underwriters a 30-day option, effective from
January 9, 2017, to purchase up to an additional 9.75 million shares of
common stock.
Williams used the net proceeds of the offering to purchase newly issued
common units, representing limited partnership interests, in its
subsidiary, Williams Partners L.P. (NYSE: WPZ) (“Williams Partners”) at
a price of $36.08586 per unit. With respect to units issued to Williams,
Williams Partners will not be required to pay distributions for the
quarter ended December 31, 2016 and the prorated portion of the first
quarter of 2017 up to closing of the private placement.
Morgan Stanley is acting as book-running manager for the offering. This
offering is being made by means of a prospectus, copies of which may be
obtained by sending a request to: Morgan Stanley & Co. LLC, Attention:
Prospectus Department, 180 Varick Street, 2nd floor, New York, NY 10014.
This offering is being made pursuant to an effective shelf registration
statement filed with the Securities and Exchange Commission. This press
release shall not constitute an offer to sell or the solicitation of an
offer to buy the Company's common stock or any other securities, and
there shall not be any offer, solicitation or sale of securities
mentioned in this press release 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.
About Williams
Williams (NYSE: WMB) is a premier provider of large-scale infrastructure
connecting U.S. natural gas and natural gas products to growing demand
for cleaner fuel and feedstocks. Headquartered in Tulsa, Okla., Williams
owns approximately 74 percent of Williams Partners L.P. (NYSE: WPZ).
Williams Partners is an industry-leading, large-cap master limited
partnership with operations across the natural gas value chain from
gathering, processing and interstate transportation of natural gas and
natural gas liquids to petchem production of ethylene, propylene and
other olefins. With major positions in top U.S. supply basins, Williams
Partners owns and operates more than 33,000 miles of pipelines system
wide – including the nation’s largest volume and fastest growing
pipeline – providing natural gas for clean-power generation, heating and
industrial use. Williams Partners’ operations touch approximately 30
percent of U.S. natural gas.
Forward-Looking Statements
Portions of this document may constitute “forward-looking statements” as
defined by federal law. Although the company believes any such
statements are based on reasonable assumptions, there is no assurance
that actual outcomes will not be materially different. Any such
statements are made in reliance on the “safe harbor” protections
provided under the Private Securities Reform Act of 1995. Additional
information about issues that could lead to material changes in
performance is contained in the company’s annual reports filed with the
Securities and Exchange Commission.
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Copyright Business Wire 2017
Source: Business Wire
(January 13, 2017 - 4:30 PM EST)
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