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.