Business
Kodiak Gas Services Announces $50 Million Share Repurchase
THE WOODLANDS, Texas, August 11, 2025--Kodiak Gas Services, Inc. (NYSE: KGS), ("Kodiak" or the "Company") today announced the repurchase of $50 million of its common stock (the "Repurchase") from Frontier TopCo Partnership, L.P., an affiliate of the funds known as EQT Infrastructure III and EQT Infrastructure IV (the "Selling Stockholder"). The Repurchase was unanimously approved by a special committee of the Company’s board of directors comprised solely of independent, disinterested directors.
About this update from Kodiak Gas Services, Inc.
[{"type":"text","content":"THE WOODLANDS, Texas, August 11, 2025--(BUSINESS WIRE)--Kodiak Gas Services, Inc. (NYSE: KGS), ("Kodiak" or the "Company") today announced the repurchase of $50 million of its common stock (the "Repurchase") from Frontier TopCo Partnership, L.P., an affiliate of the funds known as EQT Infrastructure III and EQT Infrastructure IV (the "Selling Stockholder"). The Repurchase was unanimously approved by a special committee of the Company’s board of directors comprised solely of independent, disinterested directors.","length":556,"tagName":"p"},{"type":"text","content":""Share repurchases are an integral part of our capital allocation policy and shareholder return framework," said Mickey McKee, Kodiak’s President and Chief Executive Officer. "We’re pleased to execute this transaction under our expanded repurchase authorization and will continue to evaluate share repurchases as a tool to increase shareholder value."","length":371,"tagName":"p"},{"type":"text","content":"Repurchase Summary","length":18,"tagName":"p"},{"type":"text","content":"Kodiak agreed to repurchase 1,508,750 shares of its common stock, par value $0.01 per share, for a total purchase price of $50 million from the Selling Stockholder. The purchase price was $33.14 per share, the closing price of Kodiak’s stock on August 11, 2025. The stock repurchase agreement contains customary representations and warranties and the Repurchase is expected to close on August 12, 2025.","length":402,"tagName":"p"},{"type":"text","content":"After the Repurchase, the Selling Stockholder’s ownership of Kodiak's common stock will be less than 35%.","length":109,"tagName":"p"},{"type":"text","content":"The Repurchase was conducted pursuant to Kodiak’s existing share repurchase program. Following the Repurchase, approximately $65 million remains available for repurchase under Kodiak’s share repurchase program.","length":210,"tagName":"p"},{"type":"text","content":"Stockholders’ Agreement","length":23,"tagName":"p"},{"type":"text","content":"The Repurchase reduced the Selling Stockholder’s beneficial ownership in the Company below 35%, triggering certain changes under the Stockholders’ Agreement, dated July 3, 2023, between the Company and the Selling Stockholder (the "Stockholders’ Agreement"). Most notably, the Sell...