DHT announced that BW Group has commenced a registered underwritten public offering of up to 14,680,880 shares of DHT common stock. DHT will not offer any shares in or receive any proceeds from the offering. The total number of shares outstanding will not change as a result of this offering.
The offering represents up to 10% of the outstanding shares of DHT and, assuming all shares offered are sold, BW Group will hold 34,159,674 shares of DHT, or approximately 23.3% of the outstanding shares of DHT, following the transaction.
Pareto Securities AS is acting as the underwriter for the offering. The bookbuilding will commence today, Monday 18 November 2019, at 16:00 EST, and will close no later than Tuesday 19 November 2019, at 08:00 EST. The bookbuilding may also close earlier upon no or limited notice at the full discretion of the Manager and BW Group. The transaction is expected to be priced and allocated before the opening of the New York Stock Exchange on 19 November 2019.
BW Group and the Company have each undertaken, subject to certain exceptions, not to sell any additional DHT shares for a period of 90 days following the date of pricing of the offering. BW Group reserves the right, at its own discretion, to reduce the number of offered shares or to sell no shares at all.