Koil Energy Solutions, Inc. (KLNG) Form 8-K — Oct 30, 2026
Koil Energy Solutions (OTCQB: KLNG) closed a $5.6 million PIPE on October 29, 2026, selling 1,330,372 shares at $2.50 and pre-funded warrants on 919,628 shares at $2.499, with Lucid Capital Markets acting as sole placement agent for a 6.0% fee. The deal includes a resale registration obligation within 30 days, a 90-day lockup on new issuances, and a 180-day ban on variable rate transactions. Proceeds are earmarked for working capital, rental equipment investment, and general corporate purposes. Alongside the PIPE, the company pre-announced preliminary Q3 2026 revenue of $9.4-$10.0 million, up roughly 48-57% year over year.
Key figures
- Gross Proceeds
- 5600000
- Offering Price
- $2.50 per share ($2.499 per pre-funded warrant)
- Shares Offered
- 1,330,372 shares plus pre-funded warrants on 919,628 shares
- Placement agent fee
- 6.0% of gross proceeds
- Lockup 90day general
- 90 days after Effective Date
- Preliminary q3 revenue
- $9.4M-$10.0M
- Prefunded warrant shares
- 919628
- Variable rate transaction ban
- 180 days after Effective Date
- Prefunded warrant exercise price
- $0.001
- Preliminary q3 revenue yoy growth
- 48%-57%
- Placement agent expense reimbursement
- $50,000
AI analysis
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