Excelerate Energy is an LNG play IPO The company has been in the LNG business almost two decades and operates a fleet of regasification vessels and terminals. Revenues doubled last year and the company is set to expand into LNG-to-power and local gas distribution. The LNG macro backdrop is increasingly attractive. TALK ABOUT RIGHT TIME/ RIGHT PLACE
Use of proceeds: $281 mm for growth projects in Brazil, Albania, Philippines, and Bangladesh. $50 mm to purchase vessels in connection with reorganization of the go-forward entity. The offering will fund near term capital needs but as they note this is not a needed liquidity event for them. The company will be majority held (80%) by the Kaiser family in the wake of the offering. Kaiser is selling no shares with this offering. They don't see a need to raise additional capital for the next two years.
BTW- I have received two emails questioning whether UPSTART could possibly be a Bare Essential... But I take the view of the lender. And for the lender they can do so much better using UPST. So from a Bank's point of view UPST is indispensable.>
This EE beckons. 80 % owned by the family is almost too much! They could just flip at any time and take her private again. Which would be a neat trick. I have a hard time seeing this idea not go up from here. I do wish it was more US based. They are quite global. >
BBBBBBBBBOOOOOOOYYYAAAAAAAA!- Enerplus Corporation (ERF) 13.63+0.57 (+4.41%)<---------------- As of 02:12PM EDT.
WE DID IT VAN! I hear some of our friends in Ukraine have surrendered in Mariopole - That city may have to be abandoned... FIGHT ON FOR THE OTHER ONE!