Investors including Diana Shipping, CEO purchase common shares in deal
By Devika Patel
Knoxville, Tenn., July 28 – Diana Containerships Inc. arranged a $92 million private placement of stock on July 28, according to a 6-K filed Monday with the Securities and Exchange Commission.
The company will sell 36,653,386 common shares at $2.51 apiece. The per-share price represents a 2.45% premium to the July 25 closing share price of $2.45.
Investors include Diana Shipping Inc., which will invest $40 million, chairman and chief executive officer Simeon Palios, who will invest $12 million, and two other investors, who will invest $40 million.
Settlement is expected July 29.
Proceeds will be used for general corporate purposes, including vessel acquisitions and working capital.
Athens-based Diana Containerships owns and operates container vessels.
| Issuer: | Diana Containerships Inc.
|
| Issue: | Common stock
|
| Amount: | $92 million
|
| Shares: | 36,653,386
|
| Price: | $2.51
|
| Warrants: | No
|
| Investors: | Diana Shipping Inc. (for $40 million), Simeon Palios (for $12 million)
|
| Settlement date: | July 28
|
| Settlement date: | July 29
|
| Stock symbol: | Nasdaq: DCIX
|
| Stock price: | $2.45 at close July 25
|
| Market capitalization: | $90.17 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
