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4-Traders Homepage  >  Equities  >  Nyse  >  ONEOK, Inc.    OKE

ONEOK, INC. (OKE)
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ONEOK INC /NEW/ : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)

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07/19/2017 | 10:18pm CEST

Item 1.01 Entry into a Material Definitive Agreement

On July 19, 2017, ONEOK, Inc., an Oklahoma corporation (the "Company"), entered into an Equity Distribution Agreement (the "Agreement") with Merrill Lynch, Pierce, Fenner & Smith Incorporated, BB&T Capital Markets, a division of BB&T Securities, LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Jefferies LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, TD Securities (USA) LLC, UBS Securities LLC and Wells Fargo Securities, LLC (each, a "Manager" and, collectively, the "Managers"). Pursuant to the terms of the Agreement, the Company may issue and sell from time to time through the Managers, shares of the Company's common stock, par value $0.01 per share (the "Common Stock"), having an aggregate offering price of up to $1,000,000,000. Sales of shares of Common Stock, if any, will be made by means of ordinary brokers' transactions through the facilities of the New York Stock Exchange at market prices, in block transactions, or as otherwise agreed by the Company and the Managers, by means of any other existing trading market for shares of Common Stock or to or through a market maker other than on an exchange.

Under the terms of the Agreement, the Company may also sell shares of Common Stock to one or more of the Managers as principal for their own account at a price to be agreed upon at the time of sale. Any sale of shares of Common Stock to a Manager as principal would be pursuant to the terms of a separate terms agreement between the Company and such Manager.

The Company intends to use the net proceeds from any sales pursuant to the Agreement, after deducting Managers' commissions and the Company's offering expenses, for general corporate purposes, which may include repaying or refinancing a portion of the Company's outstanding indebtedness and funding working capital, capital expenditures or acquisitions.

The shares of Common Stock will be issued pursuant to the Company's existing effective shelf registration statement on Form S-3ASR (Registration No. 333-219186).

The Agreement contains customary representations, warranties and agreements by the Company, indemnification obligations of the Company and the Managers, including for liabilities under the Securities Act of 1933, as amended, other obligations of the parties and termination provisions. The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed herewith as Exhibit 1.1 and is incorporated by reference herein. A copy of the opinion of GableGotwals relating to the validity of the issuance of shares of the Company's Common Stock pursuant to the Agreement is also filed herewith as Exhibit 5.1.

Item 9.01 Financial Statements and Exhibits.


(d) Exhibits



Exhibit                                   Description

 1.1         Equity Distribution Agreement, dated July 19, 2017, by and among
             ONEOK, Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated,
             BB&T Capital Markets, a division of BB&T Securities, LLC, Credit
             Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman
             Sachs & Co. LLC, Jefferies LLC, J.P. Morgan Securities LLC, Morgan
             Stanley & Co. LLC, RBC Capital Markets, LLC, TD Securities (USA) LLC,
             UBS Securities LLC and Wells Fargo Securities, LLC.

 5.1         Opinion of GableGotwals.

23.1         Consent of GableGotwals (included in Exhibit 5.1 hereto).

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

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Financials ($)
Sales 2017 11 159 M
EBIT 2017 1 510 M
Net income 2017 577 M
Debt 2017 9 241 M
Yield 2017 5,07%
P/E ratio 2017 25,34
P/E ratio 2018 26,32
EV / Sales 2017 2,68x
EV / Sales 2018 2,43x
Capitalization 20 687 M
Chart ONEOK, INC.
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ONEOK, Inc. Technical Analysis Chart | OKE | US6826801036 | 4-Traders
Technical analysis trends ONEOK, INC.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 14
Average target price 55,5 $
Spread / Average Target 2,0%
EPS Revisions
Managers
NameTitle
Terry K. Spencer President, CEO & Non-Independent Director
John William Gibson Non-Executive Chairman
Kevin L. Burdick Chief Operating Officer & Executive Vice President
Walter S. Hulse CFO, EVP-Strategic Planning & Corporate Affairs
Gary David Parker Independent Director
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