HOUSTON - Talos Energy Inc. (NYSE: NYSE:TALO), an independent energy company, has priced an upsized public offering of 30 million shares of common stock, aiming to raise approximately $351 million in gross proceeds. This offering, which is expected to close on January 22, 2024, also includes a 30-day option for underwriters to purchase up to an additional 4.5 million shares at the public offering price, subject to customary closing conditions.
The net proceeds from this offering are designated to partially fund the acquisition of QuarterNorth Energy Inc. If the acquisition does not proceed, the funds will be redirected to general corporate purposes. A shelf registration statement on Form S-3, including a base prospectus, was filed with the U.S. Securities and Exchange Commission (SEC) and became effective on June 14, 2022.
J.P. Morgan Securities LLC, Goldman Sachs & Co (NYSE:GS). LLC, and Mizuho are acting as joint book-running managers for the offering. Additional joint book-running managers include Citigroup, Morgan Stanley (NYSE:MS), Capital One Securities, Inc., DNB Markets, Inc., KeyBanc Capital Markets Inc., and Regions Securities LLC.
Talos Energy, with operational focus in the United States and offshore Mexico, is known for its Upstream Exploration & Production and Low Carbon Solutions businesses. The company emphasizes technical expertise and offshore operational experience to optimize long-term value while pursuing carbon capture and storage projects as part of its environmental strategy.
Investors can access the preliminary prospectus supplement and accompanying base prospectus related to the offering on the SEC's website. The final prospectus supplement will also be available on the SEC's website upon filing.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, and the sale of shares will not occur in any jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. The information presented here is based on a press release statement from Talos Energy.
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