Morgan Stanley is acting as the sole book-running manager for the offering. The Company expects to close the sale of the common shares on October 23, 2013, subject to customary closing conditions.
VLCCF - Knightsbridge Tankers Limited Announces Public Offering
October 17, 2013
Knightsbridge Tankers Limited (the "Company" or "Knightsbridge") (NASDAQ: VLCCF) today announced a public offering of common shares. The Company also intends to grant the book-running manager a 30-day option to purchase additional common shares representing 15% of the offered shares. The common shares are being offered pursuant to the Company's effective shelf registration statement.
The Company intends to use the net proceeds of this offering to partially fund the acquisition of newbuilding vessels and for general corporate purposes. Morgan Stanley is acting as the sole book-running manager for the offering.
Knightsbridge Tankers Limited is an international shipowning company listed on NASDAQ Stock Market (NASDAQ: VLCCF) and the primary business activity is international seaborne transportation of dry bulk. The fleet consists of four Capesize vessels, and the Company has two Capesize newbuildings on order.
Knightsbridge Tankers Limited press release