The exchange announced on Friday that a trading suspension has been imposed following CoolCo’s announcement on January 6.
Earlier this week, LNG carrier operator Cool Company (CoolCo) said that its shareholders have approved a merger with a unit of EPS Ventures.
The merger agreement, announced in September 2025, was approved at a special general meeting held on Tuesday.
Under the agreement, EPS Ventures acquired all of the outstanding shares of CoolCo. These were shares not already held by EPS for $9.65 in cash per common share.
As of November 14, CoolCo had 52,868,029 shares issued and outstanding. This excludes the 858,689 treasury shares held by the company as a result of the share repurchases.
Of the outstanding shares, 31,354,390 (59.3 percent) shares were owned by EPS and 21,513,639 (40.7 percent) shares were owned by other investors in the public market.
Furthermore, the transaction will be implemented through a cash merger of a wholly-owned subsidiary of EPS with and into CoolCo. This will be done under the laws of Bermuda, with CoolCo as the surviving company.
In connection with the completion of the merger, CoolCo will be delisted from the New York Stock Exchange as well.
LNG fleet
CoolCo has seven TFDE LNG carriers, which it acquired from Golar LNG. Moreover, it has the four LNG carriers it purchased from EPS.
Besides these vessels, CoolCo purchased two newbuild LNG carriers from EPS. They feature GTT’s Mark III Flex membrane cargo tank system, reliquification, air-lubrication, and shaft generators.
The shipping firm exercised its option with affiliates of EPS Ventures in June 2023 to acquire newbuild contracts for the two 2-stroke LNG carriers.
