Nordic American aims to price $65 million public offering of its stock

Bookrunner Morgan Stanley and co-managers DNB Markets, Pareto assist

By Devika Patel

Knoxville, Tenn., Nov. 21 - Nordic American Tankers Ltd. said it will price a $65 million public offering of common stock. The deal will have a 15% greenshoe.

Morgan Stanley & Co. LLC is the bookrunner, DNB Markets Inc. and Pareto Securities Inc. are co-managers.

Chairman and chief executive officer Herbjorn Hansson is expected to invest about $2 million.

Participating investors will receive a dividend of $0.16 per share. The dividend will be paid on Dec. 11.

The company will use the proceeds primarily to finance its investment in Nordic American Offshore Ltd.

The tanker company is based in Hamilton, Bermuda.

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