EQT CORPORATION

(EQT)
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EQT CORP : Other Events, Financial Statements and Exhibits (form 8-K)

11/23/2021 | 04:19pm EST

Item 8.01. Other Events.

On November 18, 2021, EQT Corporation (EQT) entered into an Underwriting Agreement (the Underwriting Agreement) with certain shareholders of EQT listed in Schedule 2 thereto (the Selling Shareholders) and Citigroup Global Markets Inc. and RBC Capital Markets, LLC, as representatives of the underwriters listed in Schedule 1 thereto (the Underwriters), relating to the offer and sale (the Offering) of 10,973,685 shares of EQT's common stock, no par value (the Common Stock), by the Selling Shareholders at a price to the public of $20.50 per share. Pursuant to the Underwriting Agreement, the Selling Shareholders, who had received the shares as a part of EQT's acquisition of Alta Resources Development, LLC's upstream and midstream subsidiaries, granted the Underwriters a 30-day option to purchase up to an additional 1,646,051 shares of Common Stock (the Option). The Underwriters exercised the Option in full on November 22, 2021, and the Option closed concurrently with the Offering on November 23, 2021.

EQT did not sell any shares of Common Stock in the Offering and did not receive any proceeds from the sale of the shares offered by the Selling Shareholders.

The Underwriting Agreement contains customary representations and warranties, agreements and obligations, closing conditions and termination provisions. EQT and the Selling Shareholders have agreed to indemnify the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended, and to contribute to payments the Underwriters may be required to make in the event of any such liabilities.

The foregoing description of the Underwriting Agreement is not complete and is qualified in its entirety by reference to the copy of the Underwriting Agreement, which is filed herewith as Exhibit 1.1 and incorporated into this Item 8.01 by reference.

The Underwriting Agreement and the above descriptions have been included to provide investors and security holders with information regarding the terms of the Underwriting Agreement. They are not intended to provide any other factual information about EQT or its subsidiaries or affiliates or equity holders. The representations, warranties and covenants contained in the Underwriting Agreement were made only for purposes of that agreement and as of specific dates; were solely for the benefit of the parties to the Underwriting Agreement; and may be subject to limitations agreed upon by the parties, including being qualified by confidential disclosures made by each contracting party to the other as a way of allocating contractual risk between them that differ from those applicable to investors. Moreover, the subject matter of the representations and warranties are subject to more recent developments. Accordingly, investors should be aware that these representations, warranties and covenants or any description thereof alone may not describe the actual state of affairs of EQT or its subsidiaries, affiliates, businesses or equity holders as of the date they were made or at any other time.



Item 9.01.  Financial Statements and Exhibits.



(d)     Exhibits.



Exhibit No.                                 Description
  1.1*          Underwriting Agreement, dated as of November 18, 2021, by and among
              EQT Corporation, the Selling Shareholders named therein and Citigroup
              Global Markets Inc. and RBC Capital Markets, LLC, as representatives of
              the Underwriters.

104           Cover Page Interactive Data File (embedded within the Inline XBRL
              document).



* Certain schedules and similar attachments have been omitted. EQT agrees to furnish a supplemental copy of any omitted schedule or attachment to the Securities and Exchange Commission upon request.

© Edgar Online, source Glimpses

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Sales 2021 702 M - -
Net income 2021 -2 751 M - -
Net Debt 2021 5 463 M - -
P/E ratio 2021 -2,46x
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Capitalization 7 982 M 7 982 M -
EV / Sales 2021 19,1x
EV / Sales 2022 2,16x
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Free-Float -
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Mean consensus BUY
Number of Analysts 23
Last Close Price 21,12 $
Average target price 31,17 $
Spread / Average Target 47,6%
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Toby Z. Rice President, Chief Executive Officer & Director
David Michael Khani Chief Financial Officer
Lydia I. Beebe Independent Chairman
Richard Anthony Duran Chief Information Officer
Philip G. Behrman Independent Director
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