NW Natural Announces Common Stock Offering

PORTLAND, Ore., Nov. 10, 2016 (GLOBE NEWSWIRE) -- Northwest Natural Gas Company, dba NW Natural (NYSE:NWN), announced today the commencement of an underwritten public offering of 880,000 shares of its common stock. In conjunction with this offering, NW Natural intends to grant the underwriters a 30-day option to purchase up to an additional 132,000 shares of its common stock.

The net proceeds will be added to the general funds of NW Natural and will be used for general corporate purposes, primarily to fund, in part, NW Natural's ongoing utility construction program. A portion of the net proceeds may be used to reduce NW Natural's short-term indebtedness (commercial paper), which was generally incurred to fund the utility construction program.

Wells Fargo Securities, J.P. Morgan and RBC Capital Markets are acting as book-running managers of the offering. U.S. Capital Advisors and Sidoti & Company, LLC are acting as co-managers of the offering.

This offering is being made under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission, and only by means of a prospectus supplement for this offering and a related base prospectus. Copies of the prospectus supplement and related base prospectus may be obtained by contacting:

Wells Fargo Securities Attention: Equity Syndicate Department 375 Park Avenue New York, NY 10152Email: cmclientsupport@wellsfargo.com  Telephone: (800) 326-5897                             

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. 

About NW Natural

NW Natural (NYSE:NWN) is headquartered in Portland, Ore., and provides natural gas service to more than 718,000 residential, commercial, and industrial customers in western Oregon and southwestern Washington.

If you liked this article you might like

3 Stocks Going Ex-Dividend Tomorrow: FTF, NWN, EV

These 3 High-Yield Dividend Stocks Are Heading Higher

5 High-Yield Dividend Stocks Growing Dividends for 50-Plus Years

16 Rock-Solid Dividend Stocks With 50 Years of Increasing Dividends and Market-Beating Performance

Will This Downgrade Hurt Northwest Natural Gas (NWN) Stock Today?