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Nordic American Tanker Ltd announces underwriters' exercise of option to purchase additional shares


Monday, 9 Dec 2013 05:22pm EST 

Nordic American Tanker Ltd:Says public offering of 8,125,000 common shares at a public offering price of $8.00 per share, the underwriters exercised a portion of the option granted and will purchase an additional 1,018,750 common shares on the same terms on which the 8,125,000 common shares were sold to the underwriters.Says common shares are being offered pursuant to the Company's effective shelf registration statement. Morgan Stanley & Co. LLC is acting as the bookrunning manager for the offering and DNB Markets Inc.Says Pareto Securities Inc. are acting as co-managers of the offering.Expects to close the sale of these additional common shares on or about Dec. 11, 2013, subject to customary closing conditions.Says following the closing, the total net proceeds to the company, before expenses to the company and including net proceeds from the sale of the additional shares, will be about $69 million and the company will have 75,182,001 common shares outstanding. 

Company Quote

7.8
0.04 +0.52%
23 Oct 2014