Britannia Bulk Holdings Announces Public Offering

Thursday, June 19, 2008

Britannia Bulk Holdings announced that its initial public offering of 8,333,333 shares of common stock was priced at $15.00 per share to the public. To the extent the underwriters sell more than the 8,333,333 shares of common stock, the underwriters have the option to purchase up to an additional 1,250,000 shares from the Company. All stock sold in the offering will be issued by the Company. Assuming no exercise of the underwriters’ option to purchase additional shares of common stock, the net proceeds to the company will be approximately $112.8 million. Completion of the offering is expected to occur on June 23, 2008, subject to satisfaction of customary closing conditions.

The company intends to use net proceeds from this offering, together with amounts held in its vessel acquisition account and borrowings under its new secured term loan facility, for the repayment of its existing senior secured notes and secured bridge facilities.

The company’s common stock has been approved for listing at the New York Stock

Exchange under the symbol “DWT” and is expected to begin trading.

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

Arctic Cruise Ship Brings High-tech, Green Design

A new vessel has been designed as a luxury expedition cruise vessel for worldwide operation including Arctic and Antarctic regions for itineraries up to 21 days with 300 passengers aboard.

Hapag-Lloyd Adds 6,000 Reefer Containers

In order to profit from the growing reefer markets in South America and Asia, Hapag-Lloyd has ordered 6,000 cutting-edge reefer containers – more than ever before in the company’s history.

AET Names DP Shuttle for Statoil Charter

Petroleum tanker owner and operator AET today named its newest vessel, a 120,000 DWT DP2 shuttle tanker, Eagle Bergen.    Eagle Bergen is the second of two vessels

 
 
Maritime Security Maritime Standards Naval Architecture Pipelines Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
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: 0.4982 sec (2 req/sec)