Oceanteam to exercise call option on its OPU01 RET bond loan Nov. 23

By Tali David

Minneapolis, Oct. 12 - Oceanteam Shipping ASA will exercise its call option on its OPU01 RET bond loan on Nov. 23, according to a press release.

The redemption will trigger the potential exercise of up to 14,898,607 warrants type I, where each warrant gives the holder the right to (within 21 days of repayment of the existing bond) subscribe for one new share at a price of NOK 1.

If all warrants type I are exercised, the new number of outstanding shares will be 29,977,400. The company will then have no warrants outstanding, the release said.

Oceanteam Shipping is a Norway-based offshore shipping company.

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