EQT completes public offering of common stock of Kodiak Gas Services

EQT, through its infrastructure funds III and IV, has completed an underwritten public offering of 5,500,000 shares of Kodiak Gas Services (NYSE: KGS) common stock.

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Rhea-AI Summary

EQT, through its infrastructure funds III and IV, has completed an underwritten public offering of 5,500,000 shares of Kodiak Gas Services (NYSE: KGS) common stock. The offering generated gross proceeds of $232,925,000. Goldman Sachs & Co. and J.P. Morgan served as the underwriters for the offering, which was completed on December 13, 2024. Notably, Kodiak Gas Services did not participate in the share sale and received no proceeds from the transaction.

Positive

None.

Negative

Large shareholder EQT reduced its stake in KGS through the sale of 5.5M shares
Significant secondary offering may create selling pressure on KGS stock
No proceeds from the offering will benefit the company's operations or growth

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12/13/2024 - 04:25 PM

The offering resulted in gross proceeds of USD232,925,000

NEW YORK, Dec. 13, 2024 /PRNewswire/ -- An affiliate of the funds known as EQT Infrastructure III and EQT Infrastructure IV ("EQT") is pleased to announce the completion of an underwritten public offering (the "Offering") of 5,500,000 shares of common stock of Kodiak Gas Services, Inc. (NYSE: KGS) (the "Company") for gross proceeds of USD232,925,000. Goldman Sachs & Co. LLC and J.P. Morgan acted as the underwriters for the Offering, which was completed on December 13, 2024. The Company did not sell any shares of its common stock in the Offering and did not receive any proceeds from the sale of the shares of its common stock sold by EQT.

Contact

EQT Press Office, press@eqtpartners.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/eqt/r/eqt-completes-public-offering-of-common-stock-of-kodiak-gas-services,c4082355

The following files are available for download:

https://mb.cision.com/Main/87/4082355/3172822.pdf

EQT - Kodiak Sell Down (Dec 2024) (KE Draft 12.12.24)_v2_Final

View original content:https://www.prnewswire.com/news-releases/eqt-completes-public-offering-of-common-stock-of-kodiak-gas-services-302331697.html

SOURCE EQT

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares of KGS stock did EQT sell in the December 2024 offering?

EQT sold 5,500,000 shares of Kodiak Gas Services (KGS) common stock in the December 2024 offering.

What were the gross proceeds from EQT's KGS stock offering?

The gross proceeds from EQT's offering of KGS stock were $232,925,000.

Which investment banks underwrote the KGS stock offering?

Goldman Sachs & Co. and J.P. Morgan acted as the underwriters for the KGS stock offering.

Did Kodiak Gas Services (KGS) receive any proceeds from EQT's stock offering?

No, Kodiak Gas Services did not sell any shares or receive any proceeds from EQT's stock offering.

EQT completes public offering of common stock of Kodiak Gas Services