04:43 AM EDT, 05/09/2025 (MT Newswires) -- ONE Gas ( OGS ) said late Thursday it priced a public offering of 2.5 million common shares, expected to raise roughly $197.5 million in gross proceeds.

The company entered into a forward sale agreement with JPMorgan Chase Bank (JPM), under which the forward purchaser or its affiliate will borrow from third parties and sell the common shares of ONE Gas ( OGS ) to the underwriter, the company said.

The underwriter will have an option to purchase up to 375,000 more shares. The offering is expected to complete on May 12.

ONE Gas ( OGS ) said it will not immediately receive proceeds from the sale by the forward seller or its affiliate unless the company is required to sell stock to the underwriter. The company plans to use any net proceeds for general corporate needs.