National Fuel prices 4.4M shares at $79.50 in private placement

National Fuel (NFG) Gasentered into a subscription agreement with a group of investors for a private placement of common stock. Upon closing of the Offering, the Company expects to receive gross proceeds of $350M, before deducting fees and expenses, resulting from the sale of approximately 4.4M shares of common stock at a purchase price of $79.50 per share. The Offering is expected to close on December 17, subject to the satisfaction of the closing conditions set forth in the Subscription Agreement. National Fuel intends to use the net proceeds from the Offering for general corporate purposes, including to finance a portion of the purchase price for National Fuel’s previously announced acquisition of CenterPoint’s Ohio regulated gas utility business. With this Offering, National Fuel has satisfied its common equity needs in connection with that transaction, in line with its objective to maintain its current investment grade credit rating. Wells Fargo Securities and TD Securities are acting as placement agents for the Offering.