Cool Company Ltd. (CLCO)

Cool Company Ltd., also known as CoolCo, was a Bermuda-incorporated owner and operator of liquefied natural gas carriers. It was formed in 2018 and had its registered office in Hamilton, Bermuda. The company owned a fleet of modern tri-fuel diesel electric LNG carriers, which it chartered to energy companies and traders under time charters of various lengths.

In addition to its owned vessels, CoolCo also provided ship management services, including for floating storage and regasification units on behalf of third parties. Its customers included major energy and trading companies that needed LNG shipping capacity as global demand for natural gas and LNG trade grew. The company's earnings depended on charter rates, vessel utilization and the renewal of charters as they expired.

CoolCo's shares were listed on the Euronext Growth market in Oslo and on the New York Stock Exchange under the symbol CLCO. The company had a significant controlling shareholder, EPS Ventures Ltd, an affiliate of the Eastern Pacific Shipping group. Like other LNG shipping companies, it faced a period of weaker spot and short-term charter rates as a large number of new vessels were delivered.

In late 2025 CoolCo announced that EPS Ventures Ltd would acquire the shares that it did not already own through a merger with a wholly owned subsidiary of EPS Ventures. Shareholders were to receive $9.65 per common share in cash. For holders registered with the Norwegian central securities depository, the consideration was paid in Norwegian kroner at the equivalent amount, while holders on the NYSE received payment through the Depository Trust Company.

The company announced on January 9, 2026 that the conditions precedent to the merger had been satisfied and that the merger was completed. The cut-off date for eligibility to receive the consideration was the close of business on January 8, 2026, and payments to holders registered in Norway were expected on or about January 14, 2026. CoolCo said it expected to be delisted from the New York Stock Exchange and Euronext Growth Oslo.

The company also stated that it intended to file a Form 15F with the SEC to deregister its common shares and end its reporting obligations under the Exchange Act. A Form 25 was filed with the SEC on January 9, 2026 relating to the NYSE listing. CoolCo is now a privately held subsidiary of EPS Ventures. Holders of CoolCo shares therefore received cash and no continuing equity interest in the company, and the transaction consolidated ownership of the LNG carrier fleet under its controlling shareholder.