Kodiak Gas Services launches $750 million notes offering to fund DPS acquisition
Kodiak Gas Services announced the launch of a $750 million private offering of senior unsecured notes due 2031, with proceeds to redeem its 7.25% notes due 2029 and partly fund its planned $675 million purchase of Distributed Power Solutions. The filing also includes DPS's 2025 audited financials and Kodiak's pro forma combined results, and notes the acquisition is expected to close in early April 2026 subject to conditions and regulatory approvals.
Key points
- Offering size is $750 million of senior unsecured notes due 2031, launched March 11, 2026.
- Redemption of 7.25% Senior Notes due 2029 at 103.625% of the $750,000,000 principal, plus accrued interest.
- DPS purchase price is $675 million: $575 million in cash plus 2,401,278 Kodiak shares, subject to adjustment.
- DPS reported 2025 revenue of $93,017,559 and net income of $15,435,258; the deal is expected to close in early April 2026.
The filing
Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 11, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.