TALOS ENERGY INC. (TALO): M&A transaction — Talos Energy completes $1.27B acquisition of QuarterNorth Energy

TALOS ENERGY INC.

Acquired all QuarterNorth equity for ~$1.27B cash and 24.8M Talos shares, closing ahead of schedule.
Talos now has ~183.4M shares outstanding; QuarterNorth designee Joseph A. Mills appointed to board.
QuarterNorth entities added as guarantors under Talos Production's 9.000% and 9.375% senior secured notes.
Company plans to update 2024 guidance reflecting acquisition closing in coming days.

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Executive movements

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Appointed

Joseph A. Mills

Director

TALO · TALOS ENERGY INC.

Filed: March 5, 2024, 6:59 PM ET

Joseph A. Mills was appointed to fill the vacancy on the Talos Board, to serve until Talos’s 2024 Annual Meeting of Stockholders or until his successor shall be elected and qualified, or, if earlier, until his death, disability, resignation, disqualification or removal from office.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Joseph A. Mills was appointed as Director at TALOS ENERGY INC..

Action: appointed
Role: Director

Exact text from the filing

Joseph A. Mills was appointed to fill the vacancy on the Talos Board, to serve until Talos’s 2024 Annual Meeting of Stockholders or until his successor shall be elected and qualified, or, if earlier, until his death, disability, resignation, disqualification or removal from office.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

TALOS ENERGY INC. completed an acquisition involving QuarterNorth Energy Inc. for approximately $1.27 billion (closed 2024-03-04).

Action: acquisition
Counterparty: QuarterNorth Energy Inc.
Consideration: approximately $1.27 billion
Closing: 2024-03-04

Exact text from the filing

as defined herein, which resulted in Talos issuing 24,349,452 shares of Talos common stock, par value $0.01 per share (the “Talos Common Stock”) and paying approximately $1.27 billion, in the aggregate at closing. Registration Rights Agreement On the Closing Date, Talos entered into a Registration Rights Agreement (the “Registration Rights Agreement”), with

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TALOS ENERGY INC. entered into Registration Rights Agreement with certain of QuarterNorth’s stockholders.

Counterparty: certain of QuarterNorth’s stockholders

Exact text from the filing

On the Closing Date, Talos entered into a Registration Rights Agreement (the “Registration Rights Agreement”), with certain of QuarterNorth’s stockholders

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74 m&a transactions filed in the last 30 days. Browse all m&a transactions →

TALOS ENERGY INC. filing history →

Source: SEC EDGAR

accession 0001193125-24-058227

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