Excelerate Energy drops after launching $150 mln stock sale for New Fortress deal

Excelerate Energy

31/03/2025 21:38

**  Excelerate Energy's EE.N shares down 5.9% in post-market trading at $27 after acquisition-related equity raise news

    ** Woodlands, Texas-based liquefied natural gas infrastructure provider commences $150 mln stock offering

    ** Co to use net proceeds to fund $1.06 bln buy of New Fortress Energy's NFE.O Jamaica assets, announced last week

    **
    Barclays and Morgan Stanley leading the offering

** With ~105..9 mln shares outstanding, EE has ~$3 bln market cap

** EE shares on Mon closed up 2.5% at $28.68, snapping three-session losing streak in which it shed nearly 12%

** Stock has gained ~80% over the past 12 months

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

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