ONEOK said that on January 31, 2025, it completed its acquisition of EnLink Midstream, LLC through two mergers, the First Merger and the Second Merger, with Merger Sub II surviving as a direct, wholly owned subsidiary of ONEOK.

1. 01

   ONEOK said that on January 31, 2025, it completed its acquisition of EnLink Midstream, LLC through two mergers, the First Merger and the Second Merger, with Merger Sub II surviving as a direct, wholly owned subsidiary of ONEOK.

2. 02

   The company said it paid 0.1412 shares of ONEOK common stock for each EnLink unit held by holders other than ONEOK, based on the Exchange Ratio, and that it paid cash in lieu of fractional shares. The exchange ratio was 1 ONEOK share per unit.

3. 03

   The company said it owned approximately 43.7% of the outstanding EnLink units and all of the membership interests in the Manager before the mergers. It also said it converted EnLink restricted incentive units and performance units into time-based restricted stock unit awards for ONEOK common stock.

4. 04

   ONEOK said that on January 31, 2025, following the mergers, it completed an internal reorganization in which it assumed the obligations of Merger Sub II, as successor to EnLink, and ENLK under their senior notes. It said Merger Sub II and ENLK provided guarantees of ONEOK's credit agreement and of certain ONEOK and ONEOK Partners, L.P. notes.

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Original filing

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