Buy ships with debt and backfill the purchase through a secondary stock offering – that is the strategy being used by Nordic American Tanker Shipping (NATS), and so long as the equity market remains open, it’s a system that works for everyone, including the serial underwriters who are paid a 6% gross underwriting spread on the follow on deals.
This is only an excerpt of Nordic American Files to Issue Another 3.2 million Shares
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Tags: · Bear, DnB NOR Markets, Inc., Nordic American Tanker Shipping (NATS), Stearns & Co. Inc., UBS Investment Bank
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