Kosmos Energy Prices $185 Million Stock Sale to Reduce Debt

Overview

• The company is issuing 97.5 million shares at $1.90 for $185.25 million in gross proceeds, with closing targeted for March 12, subject to customary conditions.
• Underwriters received a 30-day option to purchase up to 14.625 million additional shares at the offering price, less underwriting discounts.
• Kosmos plans to use the proceeds to repay borrowings under its commercial debt facility and other outstanding obligations.
• Shares fell nearly 20% in premarket trading following the announcement of the offering and its pricing.
• The deal follows a Q4 2025 miss and a leverage profile of roughly $3 billion in net debt versus a market value near $1.15 billion; Barclays and Stifel are joint book-runners under an existing SEC shelf filed June 20, 2024.