Summary
ONEOK, Inc. (OKE) filed an 8-K report on November 24, 2008, detailing the filing of two new shelf registration statements with the SEC on November 21, 2008. These new filings are designed to replace existing registration statements that are set to expire on December 1, 2008. The company has filed a universal shelf registration statement and another specifically for common stock to be issued under its Direct Stock Purchase and Dividend Reinvestment Plan (DRIP).
Key Highlights
- 1ONEOK filed two new shelf registration statements on Form S-3.
- 2The new registration statements replace existing ones expiring December 1, 2008.
- 3One new filing is a universal shelf registration statement.
- 4The second new filing is limited to common stock for the Company's DRIP.
- 5The Company stated no current plans to offer or sell securities under these new statements, aside from ordinary course DRIP issuances.
Frequently Asked Questions
ONEOK filed new shelf registration statements to replace existing ones that are scheduled to expire on December 1, 2008. This is a routine procedural step to ensure the company maintains its ability to access capital markets if needed.
One registration statement is a universal shelf, allowing for a broad range of securities. The other is specifically for common stock to be issued under ONEOK's Direct Stock Purchase and Dividend Reinvestment Plan (DRIP).
According to the filing, aside from routine issuances under the DRIP, ONEOK has no current plans to offer or sell any securities under these new registration statements. This suggests no immediate intention to raise significant capital through these mechanisms.