Nordic American Tankers Limited (the "Company") today announced an underwritten public offering of approximately $65 million aggregate amount of common shares pursuant to the Company's effective shelf registration statement. The Company's Chairman and Chief Executive Officer, Mr. Herbjrn Hansson is expected to purchase about $2.0 million worth of common shares in the offering on the same terms as other investors. Morgan Stanley & Co. LLC is acting as the bookrunning manager for the offering and DNB Markets Inc. and Pareto Securities Inc. are acting as co-managers of the offering. The Company also intends to grant the underwriters a 30-day option to purchase additional common shares representing up to 15% of the offered shares.
Nordic American Tanker Shipping is an international tanker company. Co. is engaged in owning and operating double hull Suezmax crude oil tankers. As of Dec 31 2012, Co. operated 20 vessels in the spot market.
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