Natgas producer BKV drops after launching stock offering for M&A

BKV

01/12/2025 21:48

** Shares of BKV Corp BKV.N down 6.6% post-market to $26.36 as natural gas producer seeks equity to fund an acquisition

    ** Denver, Colorado-based BKV launches 6 mln share offering

    ** It intends to use net offering proceeds to fund the purchase price in connection with previously announced acquisition of a controlling interest in BKV-BPP Power, LLC

** Citigroup, Barclays and Mizuho are joint bookrunners

** BKV shares rose 2.2% on Mon to $28.22, a record high close, extending YTD gain to about 19%

** Co went public in Sept 2024 IPO priced at $18

** BKV has about 90 mln shares outstanding

    ** All 7 analysts covering the stock are bullish; their median PT of $32 up from $27 a month ago, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))