Last week, Paragon Shipping Inc. filed a shelf offering to issue various securities of up to $250 million to position themselves with the proverbial “dry powder.” In addition, the company, through this registration statement, provided for a secondary offering of up to 5,283,288 shares, acquired in a private placement prior to the initial public offering, by a company beneficially owned by its Chairman and CEO, Mr. Michael Bodouroglou, and Loeb Partners. Details of the offering are shown in the Guts of the Deal below.
Continue Reading
K-Sea Transportation Partners L.P. (“K-Sea”) announced last week the pricing of its public offering of 2 million units representing limited partner interests. With Lehman Brothers acting as the sole book-running manager, and RBC Capital Markets, as co-lead manager, the units were priced at $25.80 with expected net proceeds after expenses of $49.8 million. Proceeds will be used to re-pay existing indebtedness and make construction progress payments on newbuildings. Details of the transaction are shown in the Guts of the Deal below.
Continue Reading
NAT De-listing from the OSE
Nordic American Tanker Shipping announced that they will de-list from the Oslo Stock Exchange January 17 due to small trading volume and their European investor’s interest in trading the shares on the NYSE. The company will be saving cost and able to focus their investor relations efforts towards one market. Mr. Herbjørn Hansson has rightfully been criticizing the Norwegian government’s lack of effort in attracting foreign capital providers through making it more attractive to invest in Norwegian companies. The stock exchange has seen more blue water shipping companies de-list than new ones in the past two years. Meanwhile, NAT’s NY stock price is still going strong, with its P/NAV ratio at a striking 274% at market close on Wedneday.
Nordic American Tanker Shipping announced that they will de-list from the Oslo Stock Exchange January 17 due to small trading volume and their European investor’s interest in trading the shares on the NYSE. The company will be saving cost and able to focus their investor relations efforts towards one market. Mr. Herbjørn Hansson has rightfully been criticizing the Norwegian government’s lack of effort in attracting foreign capital providers through making it more attractive to invest in Norwegian companies. The stock exchange has seen more blue water shipping companies de-list than new ones in the past two years. Meanwhile, NAT’s NY stock price is still going strong, with its P/NAV ratio at a striking 274% at market close on Wedneday.
Written by:
carisk | Categories:
Freshly Minted,
Stock | January 13th, 2005 |
Add a Comment
