Excelerate Energy, Inc. - EE STOCK NEWS

Excelerate Energy (NYSE: EE) has announced that its subsidiary, Excelerate Energy Partnership, is launching a $700 million offering of unsecured senior notes due 2030. The proceeds, combined with previous equity offering funds and cash reserves, will be used to:

• Fund the $1.055 billion acquisition of New Fortress Energy's Jamaica business
• Repay $163.6 million in outstanding term loan facility borrowings as of December 31, 2024
• Cover related fees and expenses

The 2030 Notes will be guaranteed by certain subsidiaries and are being offered exclusively to qualified institutional buyers in the US under Rule 144A and to international investors under Regulation S of the Securities Act.

Excelerate Energy (NYSE: EE) has released preliminary Q1 2025 financial estimates, projecting income before taxes of $52-59 million and Adjusted EBITDA of $96-101 million. The company reports a strong cash position of $600-620 million as of March 31, 2025, not including an additional $175.5 million in net proceeds from a public offering of Class A common stock received on April 2, 2025.

The company maintains full access to its undrawn $350 million Revolving Credit Facility. CFO Dana Armstrong attributes the robust quarterly performance to effective strategy execution and fleet cost management. The company recently announced an acquisition of an integrated LNG and power platform in Jamaica, which is expected to expand their global presence and enhance operating cash flow.

Excelerate Energy (NYSE: EE) has scheduled its first quarter 2025 earnings release for Wednesday, May 7, 2025, after U.S. financial markets close. The company will host a conference call for analysts and investors the following day, Thursday, May 8, 2025, at 8:30 a.m. Eastern Time (7:30 a.m. Central Time).

Both the earnings release and accompanying presentation will be available on the investor page of Excelerate's website. The conference call will be webcast live, with an archived replay and presentation copy made available on the website after the event.

Excelerate Energy (NYSE: EE) has priced its upsized public offering of 6,956,522 shares of Class A common stock at $26.50 per share. The offering size increased from the initially announced $150 million to $184.3 million in gross proceeds. The company has also granted underwriters a 30-day option to purchase up to an additional 1,043,478 shares.

The proceeds, combined with approximately $650 million in planned senior indebtedness and cash on hand, will fund the $1.055 billion acquisition of New Fortress Energy's Jamaica business. The offering is expected to close around April 2, 2025. Lead book-running managers include Barclays and Morgan Stanley, with Credit Agricole CIB, DNB Markets, Jefferies, and Wells Fargo Securities acting as joint book-running managers.

Excelerate Energy (NYSE: EE) has launched an underwritten public offering of $150 million of Class A common stock shares. The company will grant underwriters a 30-day option to purchase up to an additional $22.5 million of shares.

The proceeds, combined with approximately $650 million in planned senior indebtedness and cash on hand, will fund the $1.055 billion acquisition of New Fortress Energy's Jamaica business. The offering's completion is subject to market conditions and is not contingent on the acquisition closing.

Barclays and Morgan Stanley are serving as lead book-running managers for the offering, which will be conducted under Excelerate's previously filed S-3 shelf registration statement.

Excelerate Energy (NYSE: EE) has announced a definitive agreement to acquire New Fortress Energy's Jamaica business for $1.055 billion in cash. The acquisition includes the Montego Bay LNG Terminal, Old Harbour LNG Terminal, and Clarendon combined heat and power plant.

The transaction features long-term contracted assets with 86% Take-or-Pay revenue and approximately 21 years weighted average remaining contract duration including extensions. The assets represent $2.9 billion in cumulative Take-or-Pay direct margin from 2025 through 2039.

The deal positions Excelerate as Jamaica's sole LNG platform and includes growth opportunities in LNG bunkering, potential doubling of the Clarendon CHP plant capacity, and expansion of industrial gas supply. The transaction, expected to close in Q2 2025, represents approximately 9x the Jamaica business' 2025E adjusted EBITDA and will be immediately accretive to earnings per share.

New Fortress Energy (NFE) has announced the sale of its Jamaican assets and operations to Excelerate Energy for $1.055 billion. The transaction, expected to close in Q2 2025, includes NFE's LNG import terminal in Montego Bay, offshore floating storage and regasification terminal in Old Harbour, and 150 MW Combined Heat and Power Plant in Clarendon.

The proceeds will be used to reduce NFE's corporate debt and for general corporate purposes. Since entering Jamaica in 2016, NFE has contributed to the country's energy transition, generating significant fuel savings and reducing dependence on oil-based fuels. The deal represents a strategic move to optimize NFE's asset portfolio and enhance financial flexibility.

Excelerate Energy (NYSE: EE), a leading FSRU and LNG solutions provider, has signed a Memorandum of Understanding with PV Gas, a Petrovietnam subsidiary, to establish a strategic partnership for U.S. LNG supply to Vietnam. The collaboration aims to begin as early as 2026.

Under the agreement, both companies will evaluate PV Gas' LNG requirements and develop a joint strategic framework for LNG sourcing. The partnership focuses on securing reliable and stable LNG supply from the United States, contributing to Vietnam's growing energy needs while providing a downstream market for U.S. LNG.

Excelerate Energy (NYSE: EE) reported strong financial results for Q4 and full year 2024. The company achieved a net income of $46.1 million for Q4 and $153.0 million for the full year, alongside Adjusted EBITDA of $91.6 million for Q4 and $348.2 million for the full year.

The company declared a quarterly cash dividend of $0.06 per share, payable March 27, 2025. The strong performance was attributed to their core regasification business, with improvements driven by charter rate increases and full-year earnings from FSRU Excelsior.

For 2025, Excelerate projects Adjusted EBITDA between $340-360 million, with maintenance Capex of $60-70 million and committed growth capital of $65-75 million. The company maintains strong liquidity with $537.5 million in cash and $327.2 million available under its revolver as of December 31, 2024.