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Just Being Cautious – Genmar ATM

Last week, General Maritime Corporation entered into Open Market Sales Agreements with Jefferies & Company, Inc. and Dahlman Rose & Company LLC, to facilitate the sale of up to $50 million of its shares in the aggregate through “at-the-market offerings”. As is the case in transactions of this type, sales may be made through ordinary brokers’ transactions at market prices prevailing at the time of sale, at prices related to the prevailing market prices, or at negotiated prices. In addition, Genmar may also sell its shares to either Jefferies or Dahlman Rose, its sales agents, at a price agreed at the time. Commissions on the sale of securities are payable at the rate of 2.5% of the gross sales price of the shares sold in which such Sales Agent is a party, and are reduced to 2% in those instances where shares are sold to parties named in the sales agreement.

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