Kodiak Gas announces offering of 6.14M shares of common stock for holders

Kodiak Gas Services announced the commencement of an underwritten public offering of 6.14M shares of its common stock by an affiliate of the funds known as EQT Infrastructure III and EQT Infrastructure IV. Kodiak will not sell any shares of its common stock in the offering and will not receive any proceeds from the sale of the shares of its common stock being offered by the selling stockholder. In addition, the company intends to purchase from the selling stockholder in a private transaction $25M of common stock at a price per share equal to the public offering price. The offering is not conditioned upon the closing of the share repurchase, but the share repurchase is conditioned upon the closing of the offering. Barclays, Goldman Sachs and J.P. Morgan are acting as joint book-running managers for the offering.