Summary by Moomoo AI
On August 12, 2024, Occidental Petroleum Corporation entered into an underwriting agreement with CrownRock Holdings, L.P., and underwriters J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, and RBC Capital Markets, LLC. The agreement involved the sale of 29,560,619 shares of Occidental's common stock by the Selling Stockholder to the underwriters. The offering was part of a registration statement that became effective on August 2, 2024, and included a prospectus and supplements dated August 12, 2024. The transaction successfully closed on August 14, 2024. Occidental Petroleum did not sell any of its own shares in the offering and will not receive any proceeds from the sale. The underwriting agreement included customary representations, warranties, covenants, and indemnification obligations.