Here is why --(BUSINESS WIRE)--Double Hull Tankers, Inc. (NYSE:DHT - News) announced today the pricing of 8,000,000 common shares at a public offering price of $10.50 per share in an underwritten public offering. In connection with the offering, the underwriters have been granted an option to purchase up to 1,200,000 additional common shares to cover overallotments, if any. It will go up but will be delayed in timing.
Eighty million would be a nice bonus, seriously, it is for expanding the fleet at a time when the BDI rates are at or near all time highs. All of the shippers are contemplating expanding their fleets. Jump on board and enjoy the ride.