PITTSBURGH, May 10, 2021 /PRNewswire/ -- EQT
Corporation (NYSE: EQT) (the "Company" or "EQT") today
announced that it has priced a private offering to eligible
purchasers under Rule 144A and Regulation S of the Securities Act
of 1933, as amended (the "Securities Act"), of $500 million in
aggregate principal amount of its 3.125% senior notes due 2026 and
$500 million in aggregate principal amount of its 3.625%
senior notes due 2031 (together, the "Notes" and such offering, the
"Offering"). The Notes will be issued at par. EQT expects the
Offering to close on May 17, 2021,
subject to the satisfaction of customary closing conditions.
EQT intends to use the net proceeds from the Offering, together
with cash on hand and/or borrowings under its revolving credit
facility, to fund the cash consideration relating to its previously
announced acquisition of Alta Resources Development, LLC's
("Alta's") upstream and midstream subsidiaries.
The Notes have not been registered under the Securities Act
or any state securities laws and may not be offered or sold in
the United States absent
registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state laws. The
Notes are being offered and sold only to persons reasonably
believed to be qualified institutional buyers in the United States pursuant to Rule 144A under
the Securities Act and to certain non-U.S. persons
outside the United States in
compliance with Regulation S under the Securities Act. This news
release is for informational purposes only and does not constitute
an offer to sell, or a solicitation of an offer to buy, the Notes,
nor shall there be any sale of the Notes in any state or
jurisdiction in which such offer, solicitation or sale is unlawful.
No assurance can be made that the Offering will be consummated on
its proposed terms or at all.
Investor Contact:
Andrew
Breese
Director, Investor Relations
412.395.2555
ABreese@eqt.com
About EQT Corporation
EQT Corporation is a leading
independent natural gas production company with operations focused
in the cores of the Marcellus and Utica Shales in the Appalachian
Basin. We are dedicated to responsibly developing our world-class
asset base and being the operator of choice for our stakeholders.
By leveraging a culture that prioritizes operational efficiency,
technology and sustainability, we seek to continuously improve the
way we produce environmentally responsible, reliable and low-cost
energy. We have a longstanding commitment to the safety of our
employees, contractors, and communities, and to the reduction of
our overall environmental footprint. Our values are evident in the
way we operate and in how we interact each day – trust, teamwork,
heart, and evolution are at the center of all we do.
Cautionary Statements
This news release contains
certain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Statements that
do not relate strictly to historical or current facts are
forward-looking. Statements regarding the Offering, including the
expected closing and the expected use of proceeds therefrom, are
forward-looking statements and are subject to known and unknown
risks and uncertainties that may cause actual results to differ
materially from those expressed in such forward-looking statements.
These risks and uncertainties include, but are not limited to, the
ability to complete the Offering, general market conditions which
might affect the Offering and the consummation of the acquisition
of Alta's upstream and midstream subsidiaries. Other risks relating
to the Company are described under Item 1A, "Risk Factors," and
elsewhere in the Company's Annual Report on Form 10-K for the year
ended December 31, 2020 and other
documents the Company files from time to time with the Securities
and Exchange Commission (the "SEC"). In addition, the Company may
be subject to currently unforeseen risks that may have a materially
adverse impact on it. Any forward-looking statement speaks only as
of the date on which such statement is made, and the Company does
not intend to correct or update any forward-looking statement,
whether as a result of new information, future events or otherwise,
except as required by law.
Important Additional Information will be Filed with the
SEC
This news release refers to the proposed transaction
involving EQT and Alta and one or more of their subsidiaries (the
"proposed transaction"). The issuance of the stock consideration
for the proposed transaction will be submitted to the shareholders
of EQT for their consideration. In connection with the proposed
transaction, EQT will file with the SEC a proxy statement (the
"proxy statement"). INVESTORS AND SHAREHOLDERS OF EQT ARE URGED TO
CAREFULLY READ THE PROXY STATEMENT, AND OTHER RELEVANT DOCUMENTS TO
BE FILED WITH THE SEC BY EQT, IN THEIR ENTIRETY WHEN THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT
EQT, ALTA, THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors
and shareholders will be able to obtain a free copy of the proxy
statement and other documents filed with the SEC by EQT through the
website maintained by the SEC at www.sec.gov or through EQT's
website at www.eqt.com.
Participants in the Solicitation
EQT and its directors
and executive officers may be deemed to be participants in the
solicitation of proxies from EQT's shareholders in respect of the
proposed transaction contemplated by the proxy statement.
Information regarding the persons who are, under the rules of the
SEC, participants in the solicitation of the shareholders of EQT in
connection with the proposed transaction, including a description
of their direct or indirect interests, by security holdings or
otherwise, will be set forth in the proxy statement when it is
filed with the SEC. Information regarding EQT's directors and
executive officers is contained in its Annual Report on Form 10-K
for the year ended December 31, 2020
and its Proxy Statement on Schedule 14A, dated April 20, 2021, which are filed with the SEC.
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SOURCE EQT Corporation (EQT-IR)