Kodiak Gas Services announces $750M common stock offering

Kodiak Gas Services (KGS) announced that it has commenced an underwritten public offering of $750M of its shares of common stock. The company intends to use the net proceeds from the offering for general corporate purposes, which will include the repayment of a portion of the outstanding borrowings under its asset-based lending facility, and which may also include funding growth capital for additional power generation equipment. Pending the potential use of the net proceeds of the offering to fund growth capital for additional power generation equipment, the company may temporarily apply such portion of the net proceeds to repay outstanding borrowings under its asset-based lending facility. Goldman Sachs & Co. and J.P. Morgan are acting as the joint book-running managers for the offering.