Kodiak Gas Services, Inc. (NYSE: KGS) (“Kodiak” or the “Company”) has announced the pricing of an underwritten public offering of 6,086,957 shares of its common stock by an affiliate of EQT Infrastructure III and EQT Infrastructure IV (the “selling stockholder”) at $25.00 per share. The selling stockholder has also granted underwriters a 30-day option to purchase up to an additional 913,043 shares. Kodiak will not sell any of its own shares in this offering and will not receive any proceeds from the sale of shares by the selling stockholder. The offering is expected to close on September 11, 2024, pending customary closing conditions.
In conjunction with the offering’s closing, Kodiak plans to repurchase $25 million of its common stock from the selling stockholder in a private transaction, at the same price per share as the public offering (the “Share Repurchase”). While the offering is not contingent on the completion of the Share Repurchase, the Share Repurchase is dependent on the successful closing of the offering.
Barclays, Goldman Sachs & Co. LLC, and J.P. Morgan are serving as joint book-running managers for the offering. The offering is being conducted through a prospectus supplement and the accompanying base prospectus, which are part of an automatic shelf registration statement on Form S-3 (File No. 333-280737) filed with the Securities and Exchange Commission (SEC) and effective as of July 10, 2024. Investors are advised to read the prospectus and other SEC filings for complete information regarding the company and the offering. Copies of the preliminary prospectus supplement, the base prospectus, and the final prospectus supplement (when available) can be accessed for free on the SEC’s website or obtained from Barclays, Goldman Sachs, or J.P. Morgan through the provided contact details.
No securities will be sold in any jurisdiction where such sale or offer would be unlawful without proper registration or qualification under applicable securities laws.
About Kodiak
Kodiak Gas Services is the largest provider of contract compression services in the U.S., playing a vital role in the safe and reliable production and transportation of natural gas and oil. Based in The Woodlands, Texas, Kodiak offers compression and related services to oil and gas producers and midstream companies, supporting high-volume gas gathering systems, processing facilities, multi-well gas lift applications, and natural gas transmission systems.
