Maritime Industry Legend Jim Lawrence Dies
Jim Lawrence, a towering figure in U.S. maritime industry and founder of the Connecticut Maritime Association (CMA) conference, passed away on Sunday after a short illness. Lawrence, who established and...
Scorpio Tankers Inc.’s (STNG) offering of 30.7 million shares priced at a 5.2% discount of Tuesday’s close.
The company will sell the shares at $7.50 each, below Tuesday’s closing price of $7.91. Shares, which were inactive premarket, are up 46% over the past three months.
The oil tanker owner said it plans to use the money raised for vessel acquisitions, working capital and other general corporate needs.
The offer comes after Scorpio in December put forward an offering of 21.6 million shares, looking to repay debt and raise funds for general corporate uses.
The company has about 64 million shares outstanding, according to FactSet.
Write to Ben Fox Rubin at [email protected]
(c) 2013 Dow Jones & Company
Sign up for gCaptain’s newsletter and never miss an update
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Stay informed with the latest maritime and offshore news, delivered daily straight to your inbox
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up