PE-Backed Kosmos Energy Unveils $290M Secondary Offering
By Cara Mannion (May 24, 2017, 3:29 PM EDT) -- International oil and gas explorer Kosmos Energy Ltd. priced a $290 million secondary offering on Tuesday that will allow funds affiliated with Warburg Pincus LLC and The Blackstone Group LP to shed portions of their stakes in the company.
Dallas-based Kosmos announced an offering of 40 million common shares priced at $7.25 each, representing more than a 7 percent decrease from the company's closing stock price on Monday. Blackstone Group — the second-largest shareholder in Kosmos — agreed to sell 30 million shares to the public, while Warburg Pincus — the largest shareholder — agreed to sell 10 million shares, according...
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