Proceeds used for acquisition of five vessels, capital expenditures
By Devika Patel
Knoxville, Tenn., April 25 - StealthGas Inc. said it priced a $100 million public offering of stock with a $15 million greenshoe. The deal was announced Tuesday.
The company will sell 10 million common shares at $10.00 per share. The price per share is a 1.19% discount to the April 24 closing share price of $10.12.
Wells Fargo Securities and Deutsche Bank Securities are the joint bookrunning managers.
Settlement is expected April 30.
Proceeds will be used for the acquisition of five vessels, including three secondhand LPG carriers and two newbuilding LPG carriers, capital expenditures, including vessel acquisitions, and other general corporate purposes.
The company owns a fleet of liquefied petroleum gas carriers and is based in Athens, Greece.
| Issuer: | StealthGas Inc.
|
| Issue: | Common stock
|
| Amount: | $100 million
|
| Greenshoe: | $15 million
|
| Shares: | 10 million
|
| Price: | $10.00
|
| Warrants: | No
|
| Bookrunners: | Wells Fargo Securities and Deutsche Bank Securities
|
| Co-managers: | Global Hunter Securities, Clarkson Capital Markets and Evercore Partners
|
| Announcement date: | April 23
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| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Stock symbol: | Nasdaq: GASS
|
| Stock price: | $10.12 at close April 24
|
| Market capitalization: | $208.6 million
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