(Source: MARKETWIRE)
Nordic American Tanker Shipping Ltd. (the "Company") today 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, the Company is conducting the offering in order to fund further acquisitions under planning and for general corporate purposes.
This release is neither an offer to sell nor a solicitation of an offer to buy the common shares referred to above. An offering of any such common shares will be made only by means of a prospectus. No offer to sell or solicitation of an offer to buy such common shares shall be made in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.
The offering is being made only by means of a prospectus and related prospectus supplement. A prospectus supplement related to the offering will be filed with the Securities and Exchange Commission. When available, copies of the prospectus and prospectus supplement relating to the offering may be obtained from the offices of Morgan Stanley at 180 Varick Street, Second Floor, New York, New York 10014, Attention: Prospectus Department or by email at prospectus@morganstanley.com.
About the Company
The Company is an international tanker company that owns 13 modern double-hull Suezmax tankers and has agreed to acquire an additional three double-hull Suezmax tankers, of which two are newbuilding Suezmax tankers and one is an existing Suezmax tanker.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.
