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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Sun., Apr. 26, 2:14 AM

Slide #6. Tsakos Energy Navigation Limited Secondary Offering

Company: Tsakos Energy Navigation Limited (NYSE:TNP)
Date announced: 4/22/2015
Shares Offered: 3,400,000
Date of Pricing: 4/23/2015
Price Per Share: $25
Secondary Offering Details: Tsakos Energy Navigation Limited ("TEN") (NYSE: TNP), a leading crude and product tanker and LNG carrier operator, today announced that it plans to offer its Series D Cumulative Redeemable Perpetual Preferred Shares in a public offering under its effective shelf registration statement. - updated 4/23 - Tsakos Energy Navigation Limited ("TEN") (NYSE: TNP), a leading crude and product tanker and LNG carrier operator, today announced the pricing of its public offering of 8.75% Series D Cumulative Redeemable Perpetual Preferred Shares, which was upsized to $85 million. TEN will issue 3.4 million Series D Preferred Shares at a price to public of $25.00 per share.

Tsakos Energy Navigation is an international shipping company based in Greece. Co. is engaged in the provision of international seaborne petroleum product and crude oil transportation services. Co. operates a fleet of approximately 45 modern petroleum product tankers and crude oil carriers that provide world-wide marine transportation services for national, major and other independent oil companies and refiners under long, medium and short-term charters. Co.'s fleet also includes one 2007-built Liquefied Natural Gas (LNG) carrier and two 2013-built shuttle suezmax tankers with advanced dynamic positioning technology (DP2), bringing its total operating fleet to 48 vessels.

Preferreds: TNP.PRB, TNP.PRC


Open the TNP Page at The Online Investor »

Company Name:  Tsakos Energy Navigation Ltd.
Website:  www.tenn.gr
Sector:  Oil & Gas Equipment & Services
Number of ETFs Holding TNP:  4
Total Market Value Held by ETFs:  $3.62M
Total Market Capitalization:  $779.00M
% of Market Cap. Held by ETFs:  0.46%
 

Open the TNP Page at The Online Investor (in a new window) »

April 26, 2015    2:14 AM Eastern
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Strong Buy (3.79 out of 4)
82nd percentile
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