KOIL Energy Announces Pricing of $5.6 Million Private Placement and Preliminary Third Quarter 2026 Financial Results
Key Highlights
- ➤PIPE raises approximately $5.6 million at $2.50 per share
- ➤Preliminary Q3 revenue $9.4M-$10.0M, up approximately 48%-57% year over year
- ➤Preliminary Q3 adjusted EBITDA $0.7M-$1.2M
- ➤Cash and equivalents approximately $0.6 million before PIPE proceeds
- ➤Proceeds fund working capital, rental equipment, and corporate purposes
Expert Statements
Erik Wiik, President and Chief Executive Officer of KOIL Energy Solutions
“We are encouraged by the opportunities we are seeing in subsea pre-commissioning and the broader deepwater development market.”
Erik Wiik, President and Chief Executive Officer of KOIL Energy Solutions
“This financing is intended to support the next phase of our growth by allowing us to expand our rental equipment fleet and strengthen our service capabilities to better serve our customers.”
Erik Wiik, President and Chief Executive Officer of KOIL Energy Solutions
“Our preliminary third-quarter results reflect the continued progress of the business, and we remain focused on deploying capital strategically to support long-term growth.”
HOUSTON, Oct. 28, 2026 (GLOBE NEWSWIRE) -- KOIL Energy Solutions, Inc. (OTCQB: KLNG) (“KOIL” or the “Company”), a specialist in deepwater energy production and distribution equipment and services, today announced that it has entered into a securities purchase agreement with certain institutional and other accredited investors to raise approximately $5.6 million of gross proceeds through a private investment in public equity (“PIPE”) financing of common stock or common stock equivalents.
“We are encouraged by the opportunities we are seeing in subsea pre-commissioning and the broader deepwater development market,” said Erik Wiik, President and Chief Executive Officer of KOIL. “This financing is intended to support the next phase of our growth by allowing us to expand our rental equipment fleet and strengthen our service capabilities to better serve our customers. Our preliminary third-quarter results reflect the continued progress of the business, and we remain focused on deploying capital strategically to support long-term growth.”
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