“Balance Sheet Reinforcement” with Growth

We liked the positive spin that Dockwise Ltd. (“Dockwise”) used to describe what others term as balance sheet repair. In this instance, Dockwise is issuing a total of up to 183 million new shares at a price of NOK 7.7, a discount of 22% to Friday’s close in a direct placement and subsequent offering. New investors and certain existing shareholders subscribed to the direct placement, while the follow-on, at the same price, will be offered to other eligible existing shareholders ensuring equal treatment.  The transaction will raise new equity of $220 to $250 million that will be used to repay

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