StealthGas Announces Public Offering

MarineLink.com
Tuesday, April 23, 2013

StealthGas Inc. announced an underwritten public offering of 8,000,000 shares of its common stock pursuant to the Company's effective shelf registration statement filed with the Securities and Exchange Commission.

An entity controlled by the family of the Company's President and Chief Executive Officer has indicated its intention to purchase approximately 5% of the shares offered in the offering. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase up to 1,200,000 additional shares of its common stock.

The Company intends to use a portion of the net proceeds of the offering to partially fund the acquisition of five vessels, including three secondhand LPG carriers and two newbuilding LPG carriers, which are scheduled for delivery in May 2013 in the case of the three secondhand LPG carriers, and during the first half of 2014 in the case of the two newbuilding LPG carriers. The Company intends to use the remaining net proceeds of the offering for capital expenditures, including vessel acquisitions, and for other general corporate purposes.

Wells Fargo Securities and Deutsche Bank Securities are acting as joint book-running managers for this offering and Global Hunter Securities, Clarkson Capital Markets and Evercore Partners are acting as co-managers for this offering.

www.stealthgas.com

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

People & Company News

Singapore’s MPA Discuss LNG Bunkering

The Maritime and Port Authority of Singapore (MPA), Antwerp Port Authority, Port of Rotterdam and Port of Zeebrugge participated in a Liquefied Natural Gas (LNG)

Key to Somalia's Recovery

Piracy, terrorism and criminal activities originating in Somalia can only be addressed by creating a climate of security, engagement and empowerment that will encourage home grown businesses,

Long Beach Port Honors OOCL Executive

Andrew Tung, CEO and Managing Director of Orient Overseas Container Line, was presented today with the prestigious “Port Pilot Award” by the Long Beach Board of Harbor Commissioners.

Tanker Trends

Singapore’s MPA Discuss LNG Bunkering

The Maritime and Port Authority of Singapore (MPA), Antwerp Port Authority, Port of Rotterdam and Port of Zeebrugge participated in a Liquefied Natural Gas (LNG)

New Standard for LNG Cargo Containment Systems

Wilhelmsen Technical Solutions (WTS) said it has successfully completing the gas trial for the first LNG carrier built to a Boil Off Rate (BOR) of 0.08% per day.

Nordic American Offshore Declares Dividend

Nordic American Offshore Ltd. today announced that its board of directors has declared a dividend of $0.45 per common share for the third quarter 2014. This is the same as for the second quarter 2014.

Finance

Nordic American Offshore Declares Dividend

Nordic American Offshore Ltd. today announced that its board of directors has declared a dividend of $0.45 per common share for the third quarter 2014. This is the same as for the second quarter 2014.

Bollore Africa Logistics Sees Profit Plunge in H1

First half 2014 profit at shipping company Bollore Africa Logistics plunged to 5.89 billion CFA francs ($11.48 million) from 9.45 billion CFA francs in the same period last year,

Maduro Says Venezuela's 2015 Budget to Put Oil at $60

Venezuela's 2015 budget will be based on a target oil price of $60 dollars per barrel, President Nicolas Maduro said on Friday night, but he repeated expectations that prices will recover.

Offshore Energy

Statoil: New Oil in the Grane Area

Statoil has together with PL169 partners proved new oil resources in the D-structure in the vicinity of the Grane field in the North Sea.   Well 25/8-18 S, drilled by the rig Transocean Leader,

Offshore Oil: Lamprell Completes Caspian Sea Drilling Unit

UAE-based Lamprell said that it completed construction of the second Caspian Sea jackup drilling rig, Mercury, for service in the Caspian Sea.   "I am delighted

Ocean Power Technologies to Deploy PB40 PowerBuoy Off New Jersey

Ocean Power Technologies, Inc., announced today that the PB40 PowerBuoy(R) fabricated for the WavePort Project has shipped from Santander, Spain to Bayonne, NJ

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Port Authority Salvage Ship Electronics Ship Repair 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: 0.1433 sec (7 req/sec)