Nordic American Tanker Shipping Ltd. announces pricing of public offering

 

Nordic American Tanker Shipping Ltd. announced the pricing of its previously announced underwritten public offering of 4,000,000 common shares at a price of $32.00 per share.  The common shares are being offered pursuant to the company's effective shelf registration statement.  Morgan Stanley is acting as the bookrunning manager for the offering and DnB NOR Markets, Inc. is acting as co-manager of the offering.  The company expects to close the sale of the common shares on May 18, 2009, subject to customary closing conditions.  The company has granted the underwriters a 30-day option to purchase up to 600,000 additional shares to cover over-allotments. 
As previously announced, Nordic American Tanker Shipping is conducting the offering in order to fund further acquisitions under planning and for general corporate purposes.

Source: Transportweekly