Excelerate Energy falls after upsized $184 mln share sale for New Fortress deal

Excelerate Energy's EE.N shares down 7.4% at $26.53 before the bell after overnight acquisition-related follow-on priced

Woodlands, Texas-based liquefied natural gas infrastructure provider late Mon announced ~7 mln shares at $26.50 for ~$184.3 mln gross raise

Offering size boosted from $150 mln and priced at 7.6% discount to last sale

Co to use net proceeds to help fund $1.06 bln buy of New Fortress Energy's NFE.O Jamaica assets, announced last week

Barclays and Morgan Stanley leading the offering

With ~105..9 mln shares outstanding, EE has ~$3 bln market cap

EE shares on Mon closed up 2.5%, snapping three-session losing streak in which it shed nearly 12%

YTD, stock down ~5% after ~96% surge in 2024

NFE shares closed at $8.31 on Mon, down 45% YTD following 60% drop in 2024