Tsakos Energy plans distribution agency agreement of 4 million shares

Agent Jefferies raises funds for vessel acquisitions, debt repayment

By Devika Patel

Knoxville, Tenn., Aug. 8 - Tsakos Energy Navigation Ltd. negotiated a distribution agency agreement of 4 million common shares with agent Jefferies LLC, according to a prospectus supplement filed Wednesday with the Securities and Exchange Commission.

Jefferies will receive a 2.5% commission.

Proceeds will be used for general corporate purposes, which may include vessel acquisitions, debt repayment and working capital.

The Athens, Greece, company provides international seaborne petroleum product and crude oil transportation services.

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