Exhibit 99.1
Talos Energy Announces Pricing of Upsized Underwritten Public Offering of Common Stock
Houston, Texas, January 17, 2024 – Talos Energy Inc. (“Talos” or the “Company”) (NYSE: TALO) today announced the pricing of its upsized underwritten public offering of 30,000,000 shares of its common stock, for total gross proceeds of approximately $351.0 million. In connection with the offering, the Company also granted the underwriters a 30-day option to purchase up to an additional 4,500,000 shares of its common stock at the public offering price. The offering is expected to close on January 22, 2024, subject to customary closing conditions.
The Company intends to use the net proceeds from this offering to fund a portion of the previously announced acquisition of QuarterNorth Energy Inc. (the “QuarterNorth Acquisition”). In the event that the QuarterNorth Acquisition is not completed, the proceeds from this offering will be used for general corporate purposes.
J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Mizuho are acting as joint book-running managers and representatives of the underwriters and Citigroup, Morgan Stanley, Capital One Securities, Inc., DNB Markets, Inc., KeyBanc Capital Markets Inc. and Regions Securities LLC are also acting as joint book-running managers.
The offering is being made pursuant to a shelf registration statement on Form S-3, including a base prospectus, which was filed with the U.S. Securities and Exchange Commission (the “SEC”) and became effective on June 14, 2022. The preliminary prospectus supplement, and accompanying base prospectus, relating to the offering, have been filed with the SEC and are available on the SEC’s website at www.sec.gov. The final prospectus supplement, when available, will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement, and accompanying base prospectus, relating to the offering, and the final prospectus supplement, when available, may be obtained by sending a request to: J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, prospectus-eq_fi@jpmchase.com; Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com; Mizuho Securities USA LLC, ATTN: Equity Capital Markets, 1271 Avenue of the Americas, 3rd Floor, New York, NY 10020, telephone: (212) 205-7600, or by emailing US-ECM@mizuhogroup.com, or by accessing the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the shares of common stock or any other securities, nor shall there be any sale of such shares of common stock or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
ABOUT TALOS ENERGY
Talos Energy (NYSE: TALO) is a technically driven, innovative, independent energy company focused on safely and efficiently maximizing long-term value through its Upstream Exploration & Production and Low Carbon Solutions businesses. We currently operate in the United States and offshore Mexico. We leverage decades of technical and offshore operational expertise to acquire, explore, and produce assets in key geological trends while developing opportunities to reduce industrial emissions through carbon capture and storage projects along the U.S. Gulf Coast.
INVESTOR RELATIONS CONTACT
investor@talosenergy.com
FORWARD-LOOKING STATEMENTS
This communication may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this communication, regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this communication, the words “will,” “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “forecast,” “may,” “objective,” “plan” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on our current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events.
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TALOS ENERGY INC. | | 333 Clay St., Suite 3300, Houston, TX 77002 |
