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 October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

MSC Approves SOLAS Amendments

SOLAS amendments to make IGF Code mandatory approved by Maritime Safety Committee   The International Maritime Organization’s (IMO) Maritime Safety Committee (MSC),

Kings Point Student Earns NMRA Scholarship

The National Marine Representatives Association (NMRA) recently awarded its second $500 scholarship to a student pursuing education in the marine industry and maritime trades.

Fourth Rig Delivered to Perforadora Central

Keppel AmFELS LLC, a wholly owned US subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered the jackup rig, Coatzacoalcos, to Mexico’s Central Panuco S.

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Repair Sonar Winch
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: 0.2038 sec (5 req/sec)