Kodiak Gas Services said on Tuesday that it intends to raise up to $352 million in an initial public offering (IPO) in the United States.
The operator of contract compression infrastructure said it plans to sell 16 million shares of its stock at an anticipated IPO price of between $19 and $22 per share, raising up to $352 million.
Its shares have been approved for listing on the New York Stock Exchange under the ticker symbol “KGS,” pending official notice of issuance.
Goldman Sachs (NYSE:GS), JP Morgan and Barclays are the lead book-runners for the offering, with BofA Securities, Raymond James (NYSE:RJF), RBC Capital Markets, Stifel, Truist Securities, and the energy business of Perella Weinberg Partners TPH&Co serving as book-running managers.
Kodiak said it intends to grant the underwriters a 30-day option to purchase up to an additional 2.4 million shares at the IPO price, excluding underwriting discounts and commissions.
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