Cool Company Stock Surges on $9.65 Per Share Take-Private Offer
Majority shareholder EPS Ventures' proposal represents a 26% premium, aiming to take the LNG carrier company private.
Cool Company Ltd. (NYSE: CLCO) saw its shares jump after the company announced it is in advanced discussions for a take-private deal with its majority shareholder, EPS Ventures Ltd. The proposed cash merger would see EPS acquire all outstanding shares it doesn't already own for $9.65 per share.
The offer represents a significant 26% premium over CoolCo's closing price on September 22, 2025. According to the announcement, the price also reflects a 38% premium to the 90-day volume-weighted average share price, signaling a strong valuation from its principal backer.
EPS Ventures, which currently holds a 59.3% stake in the liquefied natural gas (LNG) carrier operator, plans to consolidate its ownership and take the company private. Upon completion of the transaction, Cool Company would become a wholly-owned subsidiary of EPS Ventures and would subsequently be delisted from both the New York Stock Exchange and Euronext Growth Oslo.
To ensure fairness and protect the interests of minority shareholders, CoolCo's Board of Directors has formed an independent Special Committee to review the proposal. The committee, comprised entirely of disinterested directors, has engaged its own legal and financial advisors to negotiate the terms. Subject to finalizing a definitive agreement, the committee intends to recommend the merger for shareholder approval.
The deal is structured as a cash merger under Bermuda law, with both parties targeting a closing in the fourth quarter of 2025 or the first quarter of 2026. The transaction remains subject to customary closing conditions, including the approval from a majority of CoolCo's common shareholders.