Excelerate Energy Announces Pricing Of Offering Of About 6.957 Mln Shares At $26.50/shr

(RTTNews) - Excelerate Energy Inc. (EE) announced the pricing of its underwritten registered public offering of about 6.957 million shares of Class A common stock at a public offering price per share of $26.50.

The size of the offering increased from the previously announced $150 million of shares of common stock to $184.35 million shares of the company's common stock.

Additionally, the company has granted the underwriters a 30-day option to purchase up to an additional 1.04 million shares of its Class A common stock at the public offering price less the underwriting discounts and commissions. The offering is expected to close on or about April 2, 2025.

The company plans to use the net proceeds from this offering, together with the expected incurrence of approximately $650 million 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, Inc.'s (NFE) business in Jamaica for $1.055 billion, 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. Credit Agricole CIB, DNB Markets, Jefferies and Wells Fargo Securities are acting as joint book-running managers. BNP PARIBAS and Raymond James are acting as co-managers.