Scorpio Tankers Completes Public Offering Of Shares For US$103.5 Million

Published: Nov 28 2017
Deal Summary

Scorpio Tankers Inc., a provider in the transportation of refined petroleum products, completed the public offering of 34.5 million (MM) shares, at a price of US$3 per share, for gross proceeds of US$103.5 MM, including the underwriters’ exercise of option to purchase additional 4.5 MM shares.

Of the total, certain shares were subscribed to by Scorpio Services Holding Limited.

Clarksons Platou Securities, Inc., BTIG, LLC, and Pareto Securities AS acted as book-running managers and Seaport Global Securities LLC and Fearnley Securities AS acted as underwriters to the company for the offering. Seward & Kissel LLP acted as a legal advisor to the company for the offering.

The company intends to use the proceeds from the offering to strengthen its balance sheet and for general corporate purposes.

Deal history

Completed: On December 1, 2017, Scorpio Tankers completed the public offering of 34.5 MM shares, at a price of US$3 per share, for gross proceeds of US$103.5 MM.

Pricing: On November 29, 2017, Scorpio Tankers priced the public offering of 30 MM shares, at a price of US$3 per share, for gross proceeds of US$90 MM.

Filing: On November 28, 2017, Scorpio Tankers filed the prospectus with the US Securities and Exchange Commission to issue 30 MM shares, in a public offering.

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