Okeanis Eco Tankers Corp. Completes $115 Million Offering
ATHENS, Greece – Okeanis Eco Tankers Corp. (the “Company” or “OET”) (NYSE: ECO, OSE: OET) is thrilled to share the successful pricing of its offering of 3,239,436 new common shares. With each share priced at $35.50, the company raised nearly $115 million, which will primarily support its strategy to expand its fleet through substantial vessel acquisitions.
Details of the Offering
This offering will enable Okeanis to acquire two newbuilding Suezmax tankers, each being constructed at Daehan Shipbuilding Co., Ltd. The vessels, priced at $97 million each, are expected to be completed and delivered by January 2026, provided all closing conditions are met. Should any of these acquisitions not proceed as planned, the raised capital may be redirected toward general corporate purposes.
Timeline for Share Distribution
The distribution of the newly allocated shares to investors is anticipated to occur approximately on November 21, following standard closing conditions. After settlement, the shares will become available for trading on the New York Stock Exchange, further enhancing liquidity for investors.
Compliance and Market Position
The Company has ensured that its offering adheres to all relevant requirements set forth by the Norwegian Securities Trading Act. The Board has confirmed compliance with equal treatment obligations, emphasizing its commitment to shareholder equity.
Prospectus and Regulatory Filings
The offering aligns with Okeanis's existing shelf registration statement with the SEC, which allows for the efficient raising of capital. Investors and other interested parties can find the associated prospectus and supplements on the SEC's website, ensuring transparency and regulatory compliance. Moreover, inquiries can be directed to Fearnley Securities or Clarksons Securities.
Company's Advisers
Fearnley Securities AS has taken on the role of global coordinator for this offering, with Clarksons Securities AS serving as joint bookrunner. Both firms have operations compliant with U.S. regulations, ensuring the integrity of this offering in the market.
About Okeanis Eco Tankers Corp.
Founded in April 2018, Okeanis Eco Tankers Corp. is recognized as a leading player in the international tanker industry. The company provides essential seaborne transportation services for crude oil and refined products. The fleet boasts six modern Suezmax tankers equipped with scrubbers and eight VLCCs that underscore Okeanis's commitment to environmental responsibility.
Investor Relations Contact
For further information or inquiries, the CFO Iraklis Sbarounis can be reached at +30 210 480 4200 or via email at ir@okeanisecotankers.com. For media relations, Nicolas Bornozis of Capital Link, Inc. is available at +1 (212) 661-7566 or okeanisecotankers@capitallink.com.
Frequently Asked Questions
What is the purpose of the recent share offering by Okeanis?
The recent offering aims to raise capital primarily for the acquisition of two newbuilding Suezmax vessels, enhancing the company's operational capacity.
When are the new shares expected to be available for trading?
The shares will be available for trading on or around November 21, following the completion of the offering.
Who are the main advisors for the offering?
Fearnley Securities AS and Clarksons Securities AS are the primary advisors involved in the offering.
What are the key characteristics of Okeanis’s fleet?
Okeanis operates a fleet of modern tankers, including six Suezmax and eight VLCC vessels, contributing to the company’s strong market presence.
How does the company ensure compliance with regulatory standards?
Okeanis follows all relevant regulations, including those laid out by the Norwegian Securities Trading Act and the U.S. SEC, to maintain transparency and integrity in operations.
