Proceeds expected to repay debt under 2010 revolving credit facility
By Devika Patel
Knoxville, Tenn., April 12 - Scorpio Tankers Inc. said it plans a $23.63 million registered direct offering of stock.
The company will sell 3.5 million common shares at $6.75 per share. The price per share is a 2.17% discount to the April 11 closing share price of $6.90.
Evercore Group LLC and RS Platou Markets AS are the agents.
Proceeds will be used to repay debt under the company's 2010 revolving credit facility and for general corporate purposes, including vessel acquisitions and working capital.
Scorpio Tankers provides marine transportation of petroleum products and is based Monaco.
| Issuer: | Scorpio Tankers Inc.
|
| Issue: | Common shares
|
| Amount: | $23,625,000
|
| Shares: | 3.5 million
|
| Price: | $6.75
|
| Warrants: | No
|
| Agents: | Evercore Group LLC and RS Platou Markets AS
|
| Pricing date: | April 12
|
| Stock symbol: | NYSE: STNG
|
| Stock price: | $6.90 at close April 11
|
| Market capitalization: | $266.11 million
|
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