Morgan Stanley, Clarksons Platou help sell stock held by GA Holdings
By Devika Patel
Knoxville, Tenn., Nov. 3 – Ardmore Shipping Corp. said it priced a $53 million secondary offering of stock with a $7.95 million greenshoe. The deal was announced Nov. 2.
The shareholder, GA Holdings LLC, will sell 4 million common shares at $13.25 apiece. The price per share is a 10.41% discount to the Nov. 2 closing share price of $14.79.
Morgan Stanley & Co. LLC and Clarksons Platou Securities AS are the bookrunners.
Ardmore is a Hamilton, Bermuda-based transporter of petroleum products and chemicals.
Issuer: | Ardmore Shipping Corp.
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Issue: | Common shares
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Amount: | $53 million
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Greenshoe: | $7.95 million, or 600,000 shares
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Shares: | 4 million
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Price: | $13.25
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Warrants: | No
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Bookrunners: | Morgan Stanley & Co. LLC and Clarksons Platou Securities AS
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Announcement date: | Nov. 2
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Pricing date: | Nov. 2
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Stock symbol: | NYSE: ASC
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Stock price: | $14.79 at close Nov. 2
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Market capitalization: | $347.25 million
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