Corporate ActionMay 15, 2026, 04:18 PM
Kodiak Gas Services Completes $862.4M Equity Offering
AI Summary
Kodiak Gas Services, Inc. completed an equity offering, issuing and selling a total of 12,147,887 shares of common stock at $71.00 per share, including the full exercise of the underwriters' option. The offering, which closed on May 15, 2026, generated approximately $862.4 million in gross proceeds. The company intends to use the net proceeds for general corporate purposes, including repaying a portion of its asset-based lending facility and potentially funding growth capital for additional power generation equipment.
Key Highlights
- Kodiak Gas Services issued and sold 10,563,380 shares of common stock.
- Underwriters fully exercised their option to purchase an additional 1,584,507 shares.
- A total of 12,147,887 shares were sold in the equity offering.
- The shares were sold at a public price of $71.00 per share.
- The equity offering generated approximately $862.4 million in gross proceeds.
- Net proceeds will be used for general corporate purposes, including debt repayment.
- Proceeds may also fund growth capital for additional power generation equipment.
- Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC were lead underwriters.
Price Impact
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