This will give gross proceeds, before estimated expenses, of about $35 mill.
The shares were placed with several institutional investors, in addition to entities affiliated with the family of StealthGas ’president and CEO.
Global Hunter Securities is acting as the sole underwriter for the offering.
The net proceeds, after underwriting discounts and commissions and other estimated fees and expenses payable by StealthGas, are estimated to be around $34.5 mill.
StealthGas said that it intended to use the net proceeds of the offering for vessel acquisitions, including ordering larger size semi-refrigerated, or fully-refrigerated LPG carriers and other general corporate purposes.