StealthGas to raise cash

May 02 2014

LPG carrier and tanker owner StealthGas has priced an underwritten registered offering of 4,476,195 shares of its common stock, at an offering price of $10.50 per share for gross proceeds.

The shares were placed with several institutional investors, in addition to entities affiliated with the Vafias family.
Global Hunter Securities is acting as the sole underwriter for the offering.
Net proceeds, after underwriting discounts and commissions and other estimated fees and expenses payable by StealthGas, will be about $46.3 mill.
StealthGas said that it intended to use the net proceeds of the offering for vessels acquisitions, capital expenditures and other general corporate purposes. 

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