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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Limit Exposure with the Uniform Commercial Code

Demanding assurance pursuant to the UCC may save you from sinking on someone else’s ship. Vessel operations require a large network of companies that come together

Baltic Index Touches New Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low on Monday on muted vessel demand.

Oversupplied Market Eyes Floating Storage Opportunities

Brent oil price reached lows of $27/bbl in mid-January, but has recovered over the past two weeks to above the $30/bbl mark. Nevertheless, volatility is expected

Salvage

Three Dead on Pemex Platform, Fire Under Control

Three workers were killed and at least seven injured when a fire broke out on a Pemex oil processing platform in the Gulf of Mexico, but the latest in a string of incidents is now under control,

Shipbreaking Practices in 2015 Reveal Appalling Record -Report

Ignoring industry leaders and human rights and environmental organizations, ship owners continue to profit from dangerous and dirty shipbreaking practices on South Asian beaches in 2015,

Boxship Aground Near Port of Hamburg

A Chinese container ship that is one of the world's largest has run aground on the river Elbe near Germany's largest port Hamburg but shipping to the harbour continues as normal,

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | 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: 0.0718 sec (14 req/sec)