By Devika Patel
Knoxville, Tenn., Oct. 2 - Dockwise Ltd. announced it completed a NOK 460 million private placement of shares.
Dockwise sold 18,392,300 ordinary shares at NOK 25 each. In connection with this placement, Dockwise said Frontline Ltd. also offered 34,976,500 existing ordinary shares.
Carnegie and Lehman Brothers were joint global coordinators and joint bookrunners and have a 15% greenshoe, which is exercisable for 30 days.
The new shares are expected to begin trading on Oct. 5.
Proceeds will be used to pay off debt.
Dockwise Ltd. is the Bermuda-based parent company of Dockwise Transport NV, an integrated heavy lift services provider.
| Issuer: | Dockwise Ltd.
|
| Issue: | Stock
|
| Amount: | NOK 460 million
|
| Greenshoe: | For 15%
|
| Shares: | 18,392,300
|
| Price: | NOK 25
|
| Warrants: | No
|
| Joint bookrunners: | Carnegie and Lehman Brothers
|
| Pricing date: | Oct. 1
|
| Settlement date: | Oct. 2
|
| Stock symbol: | Oslo OTC: DOCK
|
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