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THE WOODLANDS, Texas - Kodiak Gas Services, Inc. (NYSE:KGS) announced Tuesday the pricing of an underwritten offering of 10 million shares of its common stock by Frontier TopCo Partnership, L.P., an affiliate of EQT Infrastructure III and EQT Infrastructure IV funds, at $33.60 per share. The offering price represents a slight discount to KGS's current trading price of $34.13, with the company currently valued at approximately $2.96 billion.
The company will not receive any proceeds from the offering, which is expected to close on November 13, 2025, subject to customary closing conditions. According to InvestingPro data, KGS has been trading within a 52-week range of $29.25 to $50.43, with this offering priced near the lower end of that range.
Kodiak also announced plans to repurchase 1 million shares from the underwriter at the same price paid to the selling stockholder. This repurchase will be conducted under Kodiak's existing share repurchase program and is contingent upon the closing of the offering.
Goldman Sachs & Co. LLC is serving as the sole underwriter for the transaction. The offering is being made through a prospectus supplement and accompanying base prospectus filed as part of an automatic shelf registration statement that became effective on July 10, 2024.
Kodiak Gas Services provides contract compression services to oil and gas producers and midstream customers in the United States. The company operates in gas gathering systems, processing facilities, multi-well gas lift applications, and natural gas transmission systems.
The information in this article is based on a company press release statement.
In other recent news, Kodiak Gas Services reported its third-quarter 2025 financial results, which showed mixed performance against market expectations. The company missed its earnings per share (EPS) forecast, posting an EPS of $0.36 compared to the projected $0.42. However, Kodiak surpassed revenue forecasts, generating $322.74 million against an expected $234.76 million. Additionally, an affiliate of EQT Infrastructure funds announced a public offering of 10 million Kodiak shares, with Kodiak planning to repurchase 1 million of these shares under its existing program. This repurchase is contingent upon the completion of the offering. Stifel, a research firm, raised its price target for Kodiak Gas Services to $48, maintaining a Buy rating, citing a positive growth outlook despite the lack of specific guidance for 2026. These developments highlight the company's ongoing activities and strategic financial maneuvers.
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