Williams Closes Public Offering of Common Stock
January 13 2017 - 4:30PM
Business Wire
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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version on businesswire.com: http://www.businesswire.com/news/home/20170113005636/en/
WilliamsMedia Contact:Lance Latham, 918-573-9675orInvestor
Contacts:John Porter, 918-573-0797orBrett Krieg, 918-573-4614
Williams Partners (NYSE:WPZ)
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