Company sells 13,630,075 class A common shares at $6.65 apiece
By Devika Patel
Knoxville, Tenn., Aug. 7 – Teekay Tankers Ltd. arranged a $60.64 million private placement of stock on Aug. 4, according to a 6-K filed Friday with the Securities and Exchange Commission. It also plans a $30 million direct placement of stock with Teekay Corp.
The company will sell 9,118,797 class A common shares at $6.65 per share. The price per share is a 5.26% discount to the Aug. 3 closing share price of $7.02.
In addition, Teekay Corp. will buy 4,511,278 shares at the same price directly from the company.
Proceeds will be used for the company’s planned acquisition of 12 Suezmax vessels from Principal Maritime Tankers Corp.
Teekay is a Hamilton, Bermuda-based crude oil transporter.
| Issuer: | Teekay Tankers Ltd.
|
| Issue: | Class A common stock
|
| Amount: | $90,639,999
|
| Shares: | 13,630,075
|
| Price: | $6.65
|
| Warrants: | No
|
| Investor: | Teekay Corp. (for $30 million)
|
| Settlement date: | Aug. 4
|
| Stock symbol: | NYSE: TNK
|
| Stock price: | $7.02 at close Aug. 3
|
| Market capitalization: | $826.81 million
|
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