Excelerate Energy announces $150M Class A common stock offering

Excelerate Energy (EE) announced that it has commenced an underwritten public offering of $150M of shares of its Class A common stock. The company intends to use the net proceeds from this offering, together with the expected incurrence of approximately $650M aggregate principal amount of senior indebtedness, subject to market conditions, and cash on hand, to fund the consideration payable by the company in the previously-announced pending acquisition of New Fortress Energy’s business in Jamaica for $1.055B in cash, subject to certain adjustments. The closing of the offering is not conditioned upon the closing of the pending acquisition. Barclays and Morgan Stanley are acting as lead book-running managers.