StealthGas Inc. (the "Company") (Nasdaq:GASS) announced today an underwritten public offering of 10,000,000 shares of its common stock pursuant to the Company's effective shelf registration statement filed with the Securities and Exchange Commission. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase up to 1,500,000 additional shares of its common stock.
StealthGas is a holding company. Through its subsidiaries, Co. is a provider of international seaborne transportation services to liquified petroleum gas (LPG) producers and users, as well as crude oil and product carriers to oil producers, refineries and commodities traders. Co. owns a fleet of 33 LPG carriers that carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and VCM, three medium range product carriers that carry refined petroleum products such as gasoline, diesel, fuel oil and jet fuel, as well as edible oils and chemicals, and one Aframax tanker which is used for carrying crude oil.
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