NAT Common Share Offering a Success
Monday, April 14, 2014
Image credit NAT

Nordic American Tankers Limited (NAT) informs that its offering of 12,000,000 common shares, at a public offering price of $8.62 per share, was exercised in full by underwriters, and in accordance with the option granted to them by the Company they purchased an additional 1,800,000 common shares on the same terms.

NAT also says that the closing of the follow-on offering and the closing of the option to purchase additional shares took place simultaneously. Morgan Stanley & Co. LLC acted as the bookrunning manager for the offering and Global Hunter Securities, LLC acted as co-manager of the offering.

Following the closing completed earlier today, the total net proceeds to the Company, before expenses  and including net proceeds from the sale of the additional shares, were approximately $113.6 million.
NAT intends to use the net proceeds of this offering primarily to finance the acquisition of potentially two to four vessels, depending on the age of the vessels, and general corporate purposes.

About  NAT

The Company is an international tanker company that owns 20 double-hull Suezmax tankers.



Maritime Today

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

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

People & Company News

IMO Assembly Elects New 40-Member Council

The Assembly of the International Maritime Organization has elected the following States to be Members of its Council for the 2014-2015 biennium:    Category

Windrock Names Kelleher Global Business Development Manager

Edward P. Kelleher will be assuming the new role of Global Business Development Manager – Diesel, effective December 1st.   In this role, Mr. Kelleher will be

Canada to Aid Developing Nations Fight Climate Change

Canada will provide aid to developing countries to combat climate change, Prime Minister Justin Trudeau announced on Friday ahead of talks on global warming,


BIMCO Signs New LNG And Shipbuilding Supervision Contracts

The twice yearly meeting of BIMCO’s Documentary Committee took place in Hamburg on 19 November. In his first meeting as Chairperson of the Committee, Belgium’s

Damen Marine Components Opens Jiangyin Plant

Damen Marine Components (DMC) is proud to announce the opening of its brand new facility in Jiangyin, China.Those present at the opening ceremony included CEO

Henriksen Unveils Strongest SOLAS Boat Lifting Hook

H Henriksen of Norway has received SOLAS certification for a new off-load single-point boat lifting hook capable of holding up to 22.5-tonnes. The quick release

Tanker Trends

Idling Fleet Continues to Surge

Owners are rapidly laying up containerships as the market slows. The size of the idle fleet will get bigger while rates and profits slide, says Drewry Shipping Consultants Limited.

Egypt to Complete East Port Said Side Channel in 2016

Egypt plans to complete a side channel in East Port Said, near the Suez Canal, that would speed up shipping and allow ships direct entry into the port by the end of June 2016,

Concordia Maritime Charters MR Tanker

Concordia Maritime has signed a contract for the charter of an IMO2/3 class MR tanker, the company announced today. The vessel will be chartered jointly with Stena Weco,


DP World, SCA Pact for Ain Sokhna Port Development

Suez Canal Authority (SCA) and the Red Sea Ports Authority signed an agreement with Dubai Ports World (DP World) and Sonker Bunkering Company for the development of Egypt’s Ain Sokhna seaport,

Canada to Aid Developing Nations Fight Climate Change

Canada will provide aid to developing countries to combat climate change, Prime Minister Justin Trudeau announced on Friday ahead of talks on global warming,

Gates to Launch Mega Clean Tech Initiative

Microsoft co-founder Bill Gates will launch a multi-billion-dollar clean energy research and development initiative on Monday, the opening day of the U.N. climate change summit in Paris,

Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pipelines Salvage Ship Repair Ship Simulators 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: 0.1072 sec (9 req/sec)