ONEOK Inc. Files 8-K for Material Definitive Agreement
Ticker: OKE · Form: 8-K · Filed: Aug 30, 2024 · CIK: 1039684
Sentiment: neutral
Topics: material-agreement, regulation-fd
Related Tickers: OKE
TL;DR
ONEOK signed a big deal, details to come.
AI Summary
On August 28, 2024, ONEOK Inc. entered into a Material Definitive Agreement. The filing does not specify the nature of the agreement or any associated dollar amounts, but it is classified under Item Information for Material Definitive Agreements, Regulation FD Disclosure, and Financial Statements and Exhibits.
Why It Matters
This filing indicates a significant new agreement for ONEOK, Inc., which could impact its business operations and financial performance.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement, which suggests a significant event, but the lack of specific details necessitates a medium risk assessment until more information is available.
Key Players & Entities
- ONEOK Inc. (company) — Registrant
FAQ
What is the nature of the Material Definitive Agreement entered into by ONEOK Inc. on August 28, 2024?
The filing does not specify the nature of the Material Definitive Agreement.
Are there any financial terms or dollar amounts associated with this agreement disclosed in the filing?
No, the filing does not disclose any specific dollar amounts or financial terms related to the agreement.
What other information is included in this 8-K filing besides the Material Definitive Agreement?
The filing also includes information related to Regulation FD Disclosure and Financial Statements and Exhibits.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this filing was on August 28, 2024.
What is ONEOK Inc.'s principal executive office address and phone number?
ONEOK Inc.'s principal executive office is located at 100 West Fifth Street, Tulsa, OK 74103, and its telephone number is (918) 588-7000.
Filing Stats: 2,075 words · 8 min read · ~7 pages · Grade level 13.3 · Accepted 2024-08-30 16:38:57
Key Financial Figures
- $0.01 — registered Common stock, par value of $0.01 OKE New York Stock Exchange Indic
- $14.90 — in exchange for consideration equal to $14.90 in cash per EnLink Unit and (ii) all of
- $300.0 million — n Manager from Seller I in exchange for $300.0 million in cash. The closing of the transactio
- $2,434,300,000 — se price for the Purchased Interests is $2,434,300,000, subject to (i) a downward adjustment f
- $6.0 billion — an aggregate principal amount of up to $6.0 billion available in two draws, on the terms an
- $100 million — tstanding principal amount in excess of $100 million. The borrowings under the term loan fac
Filing Documents
- ea0212618-8k_oneok.htm (8-K) — 49KB
- ea021261801ex2-1_oneok.htm (EX-2.1) — 442KB
- ea021261801ex2-2_oneok.htm (EX-2.2) — 529KB
- ea021261801ex99-1_oneok.htm (EX-99.1) — 50KB
- image_001.jpg (GRAPHIC) — 2KB
- ex99-1_001.jpg (GRAPHIC) — 3KB
- 0001213900-24-074576.txt ( ) — 1479KB
- oke-20240828.xsd (EX-101.SCH) — 3KB
- oke-20240828_lab.xml (EX-101.LAB) — 33KB
- oke-20240828_pre.xml (EX-101.PRE) — 22KB
- ea0212618-8k_oneok_htm.xml (XML) — 3KB
01 Entry into a Material
Item 1.01 Entry into a Material Definitive Agreement . EnLink Purchase Agreement On August 28, 2024, ONEOK, Inc., an Oklahoma corporation ("ONEOK"), entered into a Purchase Agreement ("EnLink Purchase Agreement") with GIP III Stetson I, L.P., a Delaware limited partnership ("Seller I"), GIP III Stetson II, L.P., a Delaware limited partnership ("Seller II" and, together with Seller I, the "EnLink Sellers"), and EnLink Midstream Manager, LLC, a Delaware limited liability company ("Manager"), acting solely in its individual capacity and not in its capacity as managing member of EnLink Midstream, LLC, a Delaware limited liability company ("EnLink"). The EnLink Purchase Agreement provides that, among other things, ONEOK will acquire (i) approximately 43% of the outstanding common units representing limited liability company interests ("EnLink Units") in EnLink, consisting of 97,207,538 EnLink Units from Seller I and 103,133,215 EnLink Units from Seller II, in exchange for consideration equal to $14.90 in cash per EnLink Unit and (ii) all of the outstanding limited liability company interests in Manager from Seller I in exchange for $300.0 million in cash. The closing of the transactions contemplated by the EnLink Purchase Agreement ("EnLink Transaction") is expected to occur during the fourth quarter of 2024, subject to the satisfaction of customary closing conditions, including the expiration or termination of all applicable waiting periods imposed under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ("HSR Act"). EnLink Sellers, Manager and ONEOK have made customary representations and warranties in the EnLink Purchase Agreement. The EnLink Purchase Agreement also contains customary covenants and agreements, including, among others, covenants and agreements relating to (i) the conduct of EnLink's business during the interim period, (ii) certain indemnity obligations of EnLink Sellers and (iii) the efforts of the parties to cause the EnLink Tra
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ONEOK, INC. Date: August 30, 2024 By: /s/ Walter S. Hulse III Name: Walter S. Hulse III Title: Chief Financial Officer, Treasurer and Executive Vice President, Investor Relations and Corporate Development 3