National Fuel Gas (NFG) Prices 3.8M Share Common Offering at $39.50/Sh

National Fuel Gas Company (NYSE: NFG) today announced that the Company has priced an underwritten public offering of 3,800,000 shares of the Company’s common stock (the “Common Stock”) at a price to the public of $39.50 per share. The Company is conducting the offering pursuant to an effective registration statement under the Securities Act of 1933. The underwriters have a 30-day option to purchase up to an additional 570,000 shares of Common Stock. The offering is scheduled to be completed on June 2, 2020, subject to customary closing conditions.

The net proceeds to the Company, after deducting the underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $144.8 million (exclusive of the underwriters’ 30-day option to purchase additional shares of Common Stock). The Company intends to use the net proceeds from the offering for general corporate purposes, which may include the payment of a portion of the purchase price for its previously announced acquisition of certain assets from SWEPI LP (the “Acquisition”). The offering is not contingent upon the consummation of the Acquisition.

J.P. Morgan Securities LLC, BofA Securities and Goldman Sachs & Co. LLC are acting as representatives of the underwriters and joint-book running managers for the offering.

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