Talos completes QuarterNorth acquisition for ~$1.57B; provides pro forma financials

TALOS ENERGY INC.

QuarterNorth acquired for $1,244.3M cash and 24.3M shares valued at $322.6M.
Pro forma combined assets $6.71B; revenues $2.20B; net income $222.3M; diluted EPS $1.20.
Funded via $1.25B debt offering (9%/9.375% notes), 34.5M equity offering, and credit facility.
Pro forma reflects both QuarterNorth and prior EnVen acquisition for combined company.
QuarterNorth's financials as of Sep 30, 2023; purchase price allocation preliminary.

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