BUZZ-Kodiak Gas Services down after EQT's stake sale

Reuters11-15

** Shares of Kodiak Gas Services down 1.8% premarket to $35.16 after overnight secondary offering priced ** Woodlands, Texas-based gas compression firm announced ~5.7 mln shares sold by Swedish private equity firm EQT AB at $34.50

** Offering size boosted from ~4.9 mln shares, priced at 3.6% discount to last sale

** In addition, co to buy $15 mln worth of stock, or 434,783 shares, from EQT in concurrent private transaction ** As a result, EQT's holdings reduced ~44.9 mln shares, or ~51% stake (click here for SEC prospectus filing)

** Prior to offering, KGS had ~87.6 mln shares outstanding for $3 bln market cap

** Barclays, Goldman Sachs and JP Morgan jt bookrunners for offering ** Through Thurs close, KGS shares up 78% YTD and have more than doubled from Jun 2023 IPO price of $16

(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@tr.com 1-646-279-6380))

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