ACL IPO Closes

Thursday, October 13, 2005
American Commercial Lines Inc. (NASDAQ: ACLI) announced the closing of the initial public offering of 9,487,500 shares of its common stock at a price to the public of $21.00 per share. Of the shares sold in the offering, 7,500,000 shares were sold by ACL and 1,987,500 shares were sold by a selling stockholder. The shares sold by the selling stockholder included 1,237,500 shares purchased pursuant to an option granted by the selling stockholder to the underwriters, which was exercised in full. Based on the public offering price of $21.00 per share and after deducting underwriting discounts and commissions, the net proceeds to the Company were approximately $146.5 million, and the aggregate net proceeds to the selling stockholder were approximately $38.8 million. ACL will not receive any proceeds from the sale of shares by the selling stockholder. ACL shares of common stock commenced trading on the NASDAQ National Market on October 7, 2005 under the trading symbol “ACLI.” Merrill Lynch & Co. and UBS Investment Bank acted as joint bookrunners for this offering. Credit Suisse First Boston and Deutsche Bank Securities acted as co-managers. Copies of the final prospectus may be obtained from Merrill Lynch & Co., 4 World Financial Center, 5th Floor 250 Vesey Street, New York, NY 10080, and UBS Securities LLC, Prospectus Dept., 299 Park Avenue, New York, NY 10171. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 6, 2005. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of these securities in any State or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or jurisdiction. American Commercial Lines Inc., headquartered in Jeffersonville, Indiana is an integrated marine transportation and service company operating in the United States Jones Act trades, with revenues of more than $600 million and approximately 2,600 employees. For more information about ACL generally, visit www.aclines.com.
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Sea Star Continues Puerto Rico Investments

Sea Star Line, LLC has entered an agreement to on-hire another barge to add to its current service package for shipments from Jacksonville to Puerto Rico.   The

Rand Logistics Announces Debt Refinancing

Rand Logistics, Inc. announced today that it has closed a $170.0 million revolving loan facility which refinanced approximately $102.0 million of the company's

Baltic Sea Freight Index Edges Higher

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Monday as rates rose for vessels across all segments.

Salvage

Smoke: Cruise Ship Evacuates Passengers

A number of passengers and crew members were evacuated after smoke was spotted billowing from the front section of Carnival Liberty cruise ship docked in the Dutch Caribbean nation of St Maarten.

Salvage, Wreck Removal Beset with Chronic Problems

The basic nature of maritime casualties, salvage and wreck removal has evolved rapidly over the last few years. Ships and offshore constructions have become more technologically elaborate,

EALs & Oil Spill Remediation

EALs & Oil Spill Remediation: The Effects of EALs on Oil Spill and Discharge Reporting and Remediation In the wake of increased environmental scrutiny and potentially expanding liability issues,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1677 sec (6 req/sec)