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Stock Offering News

22 Feb 2021

Stuck in Port, Royal Caribbean Posts $1 Billion Quarterly Loss

© Studio Barcelona / Adobe Stock

Royal Caribbean Group reported a billion-dollar net loss for the fourth straight quarter on Monday, as the cruise operator continued to be affected by a coronavirus-triggered halt to voyages.Cruise operators have been shoring up cash reserves by issuing new shares, selling assets or raising billions of dollars in debt over the last few months as the virus outbreak brought the industry to a virtual standstill.With its ships not sailing, the company’s total revenue for the reported quarter plunged to $34.1 million from $2.52 billion last year.

15 Sep 2020

Carnival's Q3 Losses to Reach Almost $3 Billion

© dbvirago / Adobe Stock

Carnival Corp said on Tuesday it expects to post a loss of $2.9 billion in the third quarter, hurt by the suspension of cruises due to the COVID-19 pandemic, sending the cruise operator's shares down 3% in premarket trade.The cruise business is one of the worst affected from the health crisis and has forced operators, including Japan’s Luminous Cruise, to file for bankruptcy, or to raise money even at the cost of pledging ships.Carnival, which has already raised billions in debt…

17 Mar 2017

DryShips Completes Common Stock Offering

DryShips Inc. has successfully completed the previously announced $200 million common stock offering, in which the Company raised net proceeds of $198 million, pursuant to the prospectus supplement filed on February 17, 2017. Following the completion of the offering, the Company has approximately 152,055,576 common shares outstanding. George Economou, Chairman and CEO commented: "We are very pleased to have successfully raised an additional $198 million of equity, which will increase our total available liquidity to about $455 million. The Company is a diversified owner of ocean going cargo vessels that operate worldwide. The Company owns a fleet of (i) 13 Panamax drybulk carriers…

31 Jan 2017

DryShips Completes $200mln Equity Investment

DryShips has announced that it has successfully completed the previously announced $200.0 million common stock offering, in which the Company raised net proceeds of $198.0 million, pursuant to the Common Stock Purchase Agreement entered into by the Company on December 23, 2016. Following the completion of the offering, the Company has approximately 36,253,870 common shares outstanding. Mr. The Company is a diversified owner of ocean going cargo vessels that operate worldwide. The Company owns a fleet of 13 Panamax drybulk carriers with a combined deadweight tonnage of approximately 1.0 million tons, 1 Very Large Gas Carrier newbuilding and 6 offshore supply vessels, comprising 2 platform supply and 4 oil spill recovery vessels.

02 Sep 2014

Norwegian to Buy Prestige Cruises in $3b Deal

Photo: Prestige Cruises

Norwegian Cruise Line Holdings Ltd (NCLH.O) said it would buy Prestige Cruises International Inc from its owner Apollo Global Management LLC (APO.N) in a $3 billion deal to expand its high-end luxury cruise offerings. Shares of Norwegian Cruise, the world's third-largest cruise operator, were up 13 percent at $37.57 in early trading. Prestige, which in January registered with U.S. regulators for an initial public offering, owns upper-premium cruise operator Oceania Cruises and luxury cruise operator Regent Seven Seas Cruises. The company operates eight ships, with about 6,500 berths.

14 Jan 2014

Container Ship Owners, Costamare, Plan NY Bourse Stock Offering

The offering is of Series C Cumulative Redeemable Perpetual Preferred Stock, par value $0.0001 per share, liquidation preference $25.00 per share. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase additional shares of the Series C Preferred Stock. Following the offering, the Company intends to file an application to list the Series C Preferred Stock on the New York Stock Exchange. Morgan Stanley & Co. LLC, UBS Securities LLC and Credit Suisse Securities (USA) LLC are acting as joint book-running managers of the offering, which will be made under an effective shelf registration statement. Barclays Capital Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are acting as co-managers. About Costamare Inc. Costamare Inc.

13 Nov 2013

Safe Bulkers' Stock Offering May Fund New-buildings

Bulk Carrier: Photo courtesy of Safe Bulkers

Greek dry-bulk ship owners Safe Bulkers, Inc. plans to offer 5,000,000 shares of its common stock to the public. The Company plans to use the net proceeds of the Public Offering and Private Placement for vessel acquisitions, capital expenditures and for other general corporate purposes, which may include repayment of indebtedness. In connection with the Public Offering, the Company intends to grant the underwriters a 30-day option to purchase up to 750,000 additional shares of Common Stock.

19 Sep 2013

Bulkship Owners, Baltic Trading, Make Public Stock Offering

Baltic Trading say they intend to use the net proceeds from the offering for future vessel acquisitions or as working capital and for general corporate purposes. Jefferies LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for the offering, and DVB Capital Markets LLC is acting as co-manager for the offering. Baltic Trading has filed a registration statement (including a prospectus and related preliminary prospectus supplement for the common stock offering) with the U.S. Securities and Exchange Commission for the offering to which this communication relates. Baltic Trading Limited is a drybulk company focused on the spot charter market. The companhy transports iron ore, coal, grain, steel products and other drybulk cargoes along global shipping routes.

17 Jul 2013

Greece's Box Ships Announce Preferred Stock Offering

Image courtesy of Box Ships

Box Ships Inc. (NYSE:TEU) intends to offer shares of its newly designated Series C Cumulative Redeemable Perpetual Preferred Shares in an underwritten public offering. The public offering price and other terms of the Series C Preferred Stock are to be determined by negotiations between the Company and the underwriters. The Company also plans to grant the underwriters a 45-day option to purchase additional shares of Series C Preferred Stock on the same terms and conditions to cover over-allotments, if any.

26 Apr 2013

Stealth Gas Offer Stock in Order to Buy LNG/LPG Ships

StealthGas Inc., has increased the size of its stock offering, & will sell 10-million shares at $10 each using the proceeds towards purchase of 5 ships. The gross proceeds from the offering before the underwriting discount and other offering expenses are $100,000,000. An entity controlled by the family of the Company’s President and Chief Executive Officer has agreed to purchase 500,000 of the shares sold in the offering. The Company has also granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock. The Company intends to use a portion of the net proceeds of the offering to partially fund the acquisition of five vessels…

15 Oct 2012

Greek Shipowners Costamare Public Stock Offering

Owners of container ships for chartering, Costamare Inc., plans to offer 7,000,000 shares of its common stock. Members of the Konstantakopoulos family, who in the aggregate own a majority of the common stock of the Company, have indicated their intention to purchase up to 700,000 shares in the offering. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase up to 1,050,000 additional shares of its common stock. The Company plans to use the net proceeds of the offering for capital expenditures, including vessel acquisitions, and for other general corporate purposes, which may include repayments of indebtedness. Morgan Stanley & Co. LLC and Goldman, Sachs & Co.

22 Mar 2012

Costamare Announces Pricing of Common Stock Offering

Athens - Costamare Inc. announced that its offering of 7,500,000 shares of its common stock was priced at $14.10 per share. The gross proceeds from the offering before the underwriting discount and other offering expenses are expected to be approximately $105,750,000. Members of the Konstantakopoulos family, who in the aggregate own a majority of the common stock of the Company, have agreed to purchase 750,000 shares in the offering. The Company has also granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of its common stock. The Company plans to use the net proceeds of the offering for capital expenditures, including vessel acquisitions, and for other general corporate purposes, which may include repayments of indebtedness.

25 Aug 2003

American Superconductor Announces Plan for Common Stock Offering

the U.S. to the public. the next two weeks. the company has decided not to pursue. Yurek, chief executive of American Superconductor.

01 May 2002

GulfMark Reports First Quarter Results and New Contract

GulfMark Offshore Inc.announced record net income for the first quarter of 2002 of $5.4 million, or $0.62 per share (diluted), on revenues of $29.8 million. This compares to net income of $2.6 million, or $0.31 per share (diluted), on revenues of $21.9 million in the first quarter of 2001. Bruce Streeter, president and COO of the Company, said, "We are very pleased with the results of the first quarter. Despite the usual seasonal slowdown and the lay-up of one of our smallest PSVs in the North Sea (the Highland Legend), the first quarter not only outperformed the first quarter of 2001 by more than 100%, it outperformed our previous first quarter record set in 1998 by approximately 55%.

25 Jul 2000

Chiles IPO Shelved Indefinitely

Chiles Offshore Inc. postponed indefinitely its initial public stock offering because of market conditions, lead underwriters Credit Suisse First Boston said. The Houston-based company expected to price 8 million shares between $17-$19 per share. Chiles Offshore was the second company to postpone its IPO on Monday because of uncertainty in the market, joining Taiwan-based Digital United Holdings Ltd.

16 Jan 2001

Northrop Grumman to Acquire Litton Industries for $5.1B

In a move which effectively creates a defense and marine naval construction giant, Northrop Grumman Corp. and Litton Industries jointly announced late last month that they have signed a definitive agreement under which Northrop Grumman will acquire for cash all of the outstanding shares of Litton for $80 per common share and $35 per Series B Preferred share. The transaction is valued at approximately $5.1 billion, which includes the assumption of Litton's $1.3 billion in net debt. Litton is a leading supplier of advanced electronics and information systems to the U.S. government and international customers and is the premier designer and builder of non-nuclear surface combatant ships for U.S. and foreign navies.

22 Dec 2000

Northrop Grumman to Acquire Litton Industries for $80 Per Share Cash

Northrop Grumman Corp. and Litton Industries have jointly announced that they have signed a definitive agreement under which Northrop Grumman will acquire for cash all of the outstanding shares of Litton for $80 per common share and $35 per Series B Preferred share. The transaction is valued at approximately $5.1 billion, which includes the assumption of Litton's $1.3 billion in net debt. Northrop Grumman's and Litton's boards of directors have unanimously approved the transaction. Following the close of the transaction, it is Northrop Grumman's intention to raise additional capital through a stock offering. earnings per share in 2001. Northrop Grumman said it expects the acquisition to be double-digit accretive to both economic and GAAP earnings per share in 2002 and beyond.

19 Jun 2002

Stelmar Announces Delivery of Second Panamax Tanker

Stelmar Shipping Ltd. announced that it has taken delivery of a double-hull Panamax tanker, the Silvermar, from the Daewoo Shipbuilding and Marine Engineering Company Ltd. The tanker has entered into a previously announced five year time charter at $18,500 per day. The Silvermar is sister ship to the Rubymar, Jademar, Pearlmar, and Rosemar which were delivered in the first five months of 2002, and entered into twenty-four month time charters at an average rate of $18,000 per day. The Silvermar is the second Panamax tanker purchased from the proceeds raised in Stelmar's recent secondary stock offering. Sister ship, The Goldmar, was delivered on May 29, 2002. Peter R.

04 Nov 2004

Hornbeck Announces 3Q Results

Hornbeck Offshore Services, Inc. announced its results for the third quarter ended September 30, 2004. Third quarter revenues increased 16.7% to $32.9 million compared to $28.2 million for the third quarter of 2003. Of the $4.7 million increase, $1.0 million was due to an increase in the average number of vessels in the Company's offshore supply vessel ("OSV") fleet from 19.9 in the third quarter 2003 to 23 in the third quarter of 2004, and $3.7 million was due to an increase in demand for the Company's vessels. Operating income was $9.2 million, or 28.0% of revenues, for the third quarter of 2004 compared to $8.3 million, or 29.3% of revenues, for the same quarter in 2003.

31 Oct 2007

FreeSeas Inc. Declares Close of Common Stock Offering

FreeSeas Inc. (Nasdaq:FREE, Nasdaq:FREEW, Nasdaq:FREEZ), a provider of seaborne transportation for drybulk cargoes, announced the closing of the sale of 11,000,000 shares of common stock in a public offering at $8.25 per share. Total net proceeds from the stock offering after deducting underwriting discounts and commission, but before expenses, are expected to be approximately $84.4m. Credit Suisse and Cantor Fitzgerald & Co. served as the joint book running managers, and Oppenheimer & Co. and DVB Capital Markets served as the co-managers. FreeSeas has granted the underwriters an option to purchase an additional 1,650,000 shares of FreeSeas common stock at the public offering price to cover any over-allotments, exercisable within 30 days.

07 Nov 2007

FreeSeas Inc. Announces Exercise and Closing of Over-Allotment Option

FreeSeas Inc. (Nasdaq:FREE) (Nasdaq:FREEW) (Nasdaq:FREEZ), a provider of seaborne transportation for drybulk cargoes, announced that the underwriters of its recent public offering of 11,000,000 shares of common stock have fully exercised their over-allotment option to purchase an additional 1,650,000 shares of common stock at a price of $8.25 per share. The offering of the additional 1,650,000 shares of common stock recently closed. This additional purchase increased the aggregate number of shares sold in the offering to 12,650,000, resulting in total net proceeds from the stock offering after deducting underwriting discounts and commissions, but before expenses, of approximately $97m. Credit Suisse and Cantor Fitzgerald & Co.

07 Nov 2007

FreeSeas Inc. Takes Delivery of the Handysize Free Goddess

FreeSeas Inc. (Nasdaq:FREE) (Nasdaq:FREEW) (Nasdaq:FREEZ), a provider of seaborne transportation for drybulk cargoes, announced that it has taken delivery of the 1995-built, 22,051 dwt Handysize M/V Free Goddess on October 30, 2007. The vessel then began a time charter at $13,000 per day, which is expected to last approximately one month. The vessel will thereafter begin a two-year time charter at $19,250 per day. Mr. Ion Varouxakis, Chairman, President and Chief Executive Officer of FreeSeas, stated, "With the delivery of the Free Goddess, and the increase of the size of our fleet to five vessels, we have completed the first phase of our fleet renewal and expansion plan.

28 Feb 2005

Hornbeck Offshore Announces 2004 Results

Hornbeck Offshore Services, Inc. announced its results for the fourth quarter and year ended December 31, 2004. Fourth quarter revenues increased 29.5% to $37.8 million compared to $29.2 million for the fourth quarter of 2003. The $8.6 million increase was primarily driven by improved OSV market conditions in the U.S. Gulf of Mexico and continued tightening in the supply of single-hulled equipment in the northeast U.S. as a result of fourth quarter retirements mandated by the Oil Pollution Act of 1990 (OPA 90). Operating income was $10.2 million, or 27.0% of revenues, for the fourth quarter of 2004 compared to $8.4 million, or 28.8% of revenues, for the same quarter in 2003.