Cool Company Ltd. ("CoolCo") and EPS Ventures Ltd ("EPS") have announced that CoolCo's Board of Directors has approved an agreement for EPS to acquire all outstanding shares of CoolCo not already owned by EPS for $9.65 in cash per share. The $9.65 per share offer represents a 26% premium to CoolCo's closing price on September 22, 2025, and a 38% premium to the 90-day volume weighted average share price through that date. The transaction follows a unanimous recommendation by an independent Special Committee of CoolCo's Board, which determined the deal is fair and in the best interests of the company and its shareholders. The merger is expected to close in the fourth quarter of 2025 or first quarter of 2026, subject to customary conditions. EPS currently owns 59.3% of CoolCo's outstanding common shares and has indicated plans to support the transaction.