B Riley downgrades Cool Company following EPS Ventures cash offer

** Shares of liquefied natural gas transporter Cool Company CLCO.N up 20.4% at $9.36 after company said EPS Ventures will acquire its remaining 40.7% outstanding shares for $520 million

** Co's shares have steadily recovered from early Q2 troughs as rates improved off a deep bottom during a period of seasonal weakness

** The deal, which is expected to close in the fourth quarter of 2025 or first quarter of 2026, represents a 26% premium to the company's last close on September 22

** Including session's moves, CLCO up 17.5% YTD