Wells Fargo Securities, Bank of America Merrill Lynch and Jefferies are assisting
By Devika Patel
Knoxville, Tenn., June 10 - Diana Containerships Inc. said it priced a $20 million private placement of shares with Diana Shipping Inc. and a $106.88 million public sale of stock with a $16.03 million greenshoe. The deals were announced May 31 and are being conducted concurrently.
The company will sell 2,666,667 common shares at $7.50 apiece in the placement. It will sell 14.25 million shares in the public offering. The price per share is a 5.66% discount to the June 9 closing share price of $7.95.
Wells Fargo Securities, Bank of America Merrill Lynch and Jefferies & Co., Inc. are the joint-book running managers for the public sale.
Settlement is expected June 15.
Proceeds will be used to repay the company's secured term loan facility with DnB NOR Bank ASA, for acquisition costs of three containerships and for additional containership acquisitions and general corporate purposes, including working capital.
Athina, Greece-based Diana Containerships owns and operates container vessels.
| Issuer: | Diana Containerships Inc.
|
| Issue: | Common shares
|
| Amount: | $126,875,000
|
| Price: | $7.50
|
| Warrants: | No
|
| Announcement date: | May 31
|
| Pricing date: | June 10
|
| Settlement date: | June 15
|
| Stock symbol: | Nasdaq: DCIX
|
| Stock price: | $7.95at close June 9
|
| Market capitalization: | $44.09 million
|
|
|
| Private placement
|
| Amount: | $20 million
|
| Shares: | 2,666,667
|
| Investor: | Diana Shipping Inc.
|
|
|
| Public sale
|
| Amount: | $106,875,000
|
| Greenshoe: | $16,031,250
|
| Shares: | 14.25 million
|
| Agents: | Wells Fargo Securities, Bank of America Merrill Lynch and Jefferies & Co., Inc.
|
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