Okeanis Eco Tankers Prices Offering of 3.61 Million Shares, Raising Approximately $130 Million
Okeanis Eco Tankers has priced an offering of 3,611,111 new shares of the Company's common stock, par value $0.001 per share, at a price of $36.00 per Offer Share, raising gross proceeds of approximately $130 million. The net proceeds from the Offering are expected to be used as partial consideration for the acquisition of two newbuilding Suezmax vessels, each currently under construction at Daehan Shipbuilding, each from an unrelated third-party seller, for an acquisition price of $99.3M per vessel. Each vessel is a sister vessel to the two vessels delivered in January 2026, and is expected to be delivered from the shipyard during Q2, subject to satisfaction of closing conditions for such delivery, including that the Company obtaining the necessary debt financing required to fully fund the Vessel Acquisitions beyond equity raised in the Offering. If one or both of the Vessel Acquisitions do not consummate, the net proceeds from the Offering may be used for general corporate purposes. The Offering is expected to be completed by delivery of the allocated Offer Shares to investors through the Depository Trust Company on a delivery versus payment basis on or about 23 January subject to the satisfaction of customary closing conditions, including that the agreements for the Vessel Acquisitions remaining in full force and effect at the time of closing. The Offer Shares will be available for trading on New York Stock Exchange once the Offer Shares have been issued and settlement has taken place through the DTC, expected on or about 23 January. After delivery of Offer Shares, such shares may be transferred from DTC to Euronext Securities Oslo in accordance with the customary arrangements for transfers of the Company's shares between DTC and VPS.
