Scorpio Tankers announced that it intends to offer, issue and sell to the public 30 million shares of its common stock, par value $0.01 per share, through an underwritten public offering.
The net proceeds of the Offering are expected to be used to strengthen the Company’s balance sheet and for general corporate purposes. As part of the Offering, Scorpio Services Holding Limited has expressed an interest to purchase at least $20 million of Common Shares at the public offering price.
The Company also intends to grant the underwriters a 30-day option to purchase up to an additional 4.5 million Common Shares.
Clarksons Platou Securities, Inc. is acting as lead underwriter and bookrunner in the Offering. BTIG, LLC and Pareto Securities AS are acting as joint lead managers and bookrunners in the Offering. Seaport Global Securities LLC and Fearnley Securities AS are acting as co-managers in the Offering.
The Company’s Common Shares trade on the New York Stock Exchange under the symbol “STNG.”