Welcome to our dedicated page for Cool Co news (Ticker: CLCO), a resource for investors and traders seeking the latest updates and insights on Cool Co stock.
Cool Company Ltd. ("CoolCo"), formerly listed under the symbol CLCO on the New York Stock Exchange and Euronext Growth Oslo, has generated a steady flow of corporate, financial, and transactional news. As a pure play LNG carrier company with a 13-vessel fleet and a portfolio of short- and long-term charters, its disclosures have covered operational performance, financing activities, and major strategic decisions.
News items for CLCO include quarterly and interim business updates that summarize operating revenues, net income, time charter equivalent earnings, and fleet utilization. These releases often discuss drydocks, LNGe upgrades for specific vessels, and the commencement of new fixed-rate and floating-rate charters, giving readers insight into how CoolCo manages employment for its LNG carriers and invests in performance enhancements.
CoolCo’s announcements also highlight financing and capital structure developments. Press releases and accompanying Form 6-K filings describe interest rate swap agreements used to hedge portions of its floating-rate debt, the use of revolving credit and term loan facilities, and sale and leaseback arrangements for vessels such as Kool Tiger and GAIL Sagar. In addition, the company reported on a share repurchase program, including the number of shares repurchased and the subsequent termination of the program following the signing of a merger agreement.
A significant portion of recent CLCO news relates to its merger with a newly formed, wholly owned subsidiary of EPS Ventures Ltd. Coverage includes the announcement of an agreement in principle, the execution of the Agreement and Plan of Merger, the establishment of record dates and meeting dates for a special general meeting of shareholders, and the final completion of the transaction. These items detail the $9.65 per share cash consideration, the role of an independent special committee, shareholder approval of the merger proposal, and CoolCo’s expectation of delisting and deregistration.
For investors and researchers, the CLCO news stream serves as a historical record of CoolCo’s operations as a public LNG carrier company, its fleet and charter developments, and the steps leading to its acquisition by EPS Ventures Ltd. and transition to private ownership.
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On April 21, 2023, Cool Company Ltd. announced the filing of its Form 20-F for the year ended December 31, 2022, with the Securities and Exchange Commission in the U.S. This document is accessible via the company's website, and shareholders can request a hard copy for free. CoolCo operates as a growth-oriented owner, operator, and manager of fuel-efficient liquefied natural gas (LNG) carriers. The company utilizes an integrated, in-house vessel management platform to offer modern management and transportation solutions. CoolCo aims to leverage industry relationships for further acquisitions and pursue selective newbuild opportunities, emphasizing its commitment to decarbonization and energy security.
Cool Company Ltd. has successfully completed the sale of the Golar Seal for $184.3 million, as announced in their earlier press release dated February 20, 2023.
This transaction supports the company's strategy in the liquefied natural gas (LNG) sector, aiming to enhance operational flexibility and financial strength.
CoolCo focuses on providing modern and sustainable transportation solutions for LNG, emphasizing decarbonization and energy security.
Cool Company Ltd. (CLCO) announced that its shares will begin trading on the NYSE on March 17, 2023, following a successful regulatory review. This listing allows shares to be traded on both the NYSE and Euronext Growth Oslo. The company has also implemented a new registration structure for its shares, which simplifies their settlement, enhancing liquidity. Additionally, a trading suspension that occurred on Euronext Growth Oslo from March 15 to March 16 has now ended. CoolCo operates LNG carriers, focusing on eco-friendly energy solutions and intends to pursue further acquisitions in the sector.