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Nordic American Tankers Limited Message Board

  • hubcap1234_00 hubcap1234_00 Apr 7, 2014 5:57 PM Flag

    What price will offering go at. 8, 7, maybe 7.50?

    They will issue paper as long as some poor soul will buy it. They have NO profits. Dont ya need to make a $ sometime. Im toast...

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    • If it holds around the $8.50 area tomorrow, given typical discounts, offering may go off ~ $8 or so if we're lucky. If the ship additions are immediately acretive to the bottom line, I don't see a problem - companies like GMLP do this regularly. Not so thrilled the the attempt to pull in retail by proudly pushing "The investors participating in this offering are entitled to a dividend of $0.23 per share. This dividend was announced April 2, 2014 and is payable to shareholders of record as of May 15, 2014." in the PR.

      • 1 Reply to ex_hacker202
      • Deal is done - and the dilution is bigger than expected now 16%, could be as high as 19%:

        "Nordic American Tankers Ltd. (the "Company") today announced the pricing of its previously announced underwritten public offering for 10,000,000 common shares. Because of strong demand the Company agreed to upsize the offering to 12,000,000 common shares at a public offering price of $8.62 per share. The common shares are being offered pursuant to the Company's effective shelf registration statement Morgan Stanley & Co. LLC is acting as the bookrunning manager for the offering and Global Hunter Securities, LLC is acting as co-manager of the offering. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,800,000 common shares. The Company expects to close the sale of the common shares on April 11, 2014, subject to customary closing conditions."

 
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