Occidental (NYSE: OXY) announced the launch of an underwritten secondary public offering of 29,560,619 shares of its common stock by CrownRock Holdings, L.P. (the “Selling Stockholder”).
Occidental is not offering any shares of common stock in the offering. The Selling Stockholder will receive all of the proceeds from the proposed offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.
J.P. Morgan, Morgan Stanley and RBC Capital Markets are acting as the underwriters for the offering. The underwriters may offer the shares of common stock from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise, at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.
