Kodiak Gas Services falls after top holder EQT's $344 mln stake sale

Kodiak Gas Services

08/09/2025 14:11

Updates with pricing details

** Shares of Kodiak Gas Services KGS.N down 3% premarket to $34.25 after $344 mln secondary offering prices

** Compression services provider to oil and gas industry announces 10 mln shares offloaded by Swedish private equity firm EQT AB EQTAB.ST at $34.40

** Offering price represents 2.6% discount to stock's last sale on Fri

** EQT's holdings go to ~19.76 mln shares, reducing its stake from 34.3% to 22.8%, per the prospectus filing

** The Woodlands, Texas-based KGS has ~86.68 mln shares outstanding as of Sept 3 for ~$3.1 bln market cap

** Goldman Sachs is sole underwriter for the offering

** Through Fri, KGS shares lost 13.5% YTD

** 11 of 12 analysts rate KGS "strong buy" or "buy", 1 rates "hold" and median PT is $44, LSEG data shows

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

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