Brief: Cool Company Contemplates Private Placement, Acquisition Of SPVs; Posts Q3 Adj. EBITDA At $42 Mln

Cool

02/11/2022 15:50

Nov 2 (Reuters) - Cool Company Ltd  COOL.OL :
    * CONTEMPLATED PRIVATE PLACEMENT AND ACQUISITION OF FOUR SPECIAL PURPOSE VEHICLES WITH
CONTRACTED
LNG CARRIERS. Q3 2022 BUSINESS UPDATE
    * CONTEMPLATED PRIVATE PLACEMENT TO RAISE GROSS PROCEEDS OF UP TO USD 270 MILLION
    * EPS VENTURES HAS PRE-COMMITTED TO SUBSCRIBE FOR AND BE ALLOCATED OFFER SHARES EQUAL TO USD
135
MILLION
    * CONTEMPLATES TO ACQUIRE SPVS WITH VESSELS FROM QCT FOR ABOUT USD 660 MILLION
    * AGREED PURCHASE PRICE FOR VESSELS IS IN LINE WITH PRICE QCT PAID FOR VESSELS FROM ING BANK
IN
MAY 2022
    * 3Q22 ADJUSTED EBITDA: $42M ($67M FOR 1H22
    * 3Q22 TCE: $73K PER DAY
    * DIVIDEND POLICY: COMMENCING WITH EFFECT FROM Q4 2022, WITH INITIAL PAYMENT EXPECTED TO
TAKE
PLACE DURING Q1 2023

Source text for Eikon:  ID:nObi5lqh3a 
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