Proceeds expected to repay debt under 2010 revolving credit facility
By Devika Patel
Knoxville, Tenn., April 13 - Scorpio Tankers Inc. said it increased a registered direct offering of common stock to $27 million from $23.63 million. The offering priced Thursday.
The company will now sell 4 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.
Scorpio Tankers provides marine transportation of petroleum products and is based in Monaco.
| Issuer: | Scorpio Tankers Inc.
|
| Issue: | Common shares
|
| Amount: | $27 million, increased from $23,625,000
|
| Shares: | 4 million
|
| Price: | $6.75
|
| Warrants: | No
|
| Agents: | Evercore Group LLC and RS Platou Markets AS
|
| Pricing date: | April 12
|
| Upsized: | April 13
|
| Stock symbol: | NYSE: STNG
|
| Stock price: | $6.90 at close April 11
|
| Market capitalization: | $256.53 million
|
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