Nordic American Tanker Shipping Limited (NYSE:NAT) Announces Underwriters' Exercise of Over-allotmen
(Thomson Reuters ONE) - Hamilton, Bermuda, January 27, 2010Nordic American Tanker Shipping Limited (the "Company") announced today that, inconnection with its previously announced follow-on offering of 4,000,000 commonshares, the underwriters have exercised in full the over-allotment optiongranted to them by the Company. The Company will sell an additional 600,000common shares as a result of the over-allotment exercise on the same terms onwhich the 4,000,000 common shares were sold to the underwriters, resulting inaggregate net proceeds to the Company, before expenses relating to the offering,of approximately $137 million.Morgan Stanley is acting as the bookrunning manager for the offering, and DnBNOR Markets is acting as co-manager of the offering. The Company expects toclose the sale of the 4,600,000 common shares on January 27, 2010, subject tocustomary closing conditions. After the closing, the Company will have46,898,782 common shares outstanding.This press release does not constitute an offer to sell or the solicitation ofan offer to buy securities and shall not constitute an offer, solicitation orsale in any jurisdiction in which such offer, solicitation or sale is unlawful.The offering is being made by means of a prospectus and related prospectussupplement. A prospectus supplement related to the offering will be filed withthe Securities and Exchange Commission. When available, copies of the prospectusand prospectus supplement relating to the offering may be obtained from theoffices of Morgan Stanley at 180 Varick Street, Second Floor, New York, New York10014, Attention: Prospectus Department or by emailatprospectus(at)morganstanley.com .About the CompanyThe Company is an international tanker company that owns 15 modern double-hullSuezmax tankers and has agreed to acquire an additional three double-hullSuezmax tankers, of which two are newbuilding Suezmax tankers and one is anexisting Suezmax tanker. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTSMatters discussed in this press release may constitute forward-lookingstatements. The Private Securities Litigation Reform Act of 1995 provides safeharbor protections for forward-looking statements in order to encouragecompanies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives,goals, strategies, future events or performance, and underlying assumptions andother statements, which are other than statements of historical facts.The Company desires to take advantage of the safe harbor provisions of thePrivate Securities Litigation Reform Act of 1995 and is including thiscautionary statement in connection with this safe harbor legislation. The words"believe," "anticipate," "intend," "estimate," "forecast," "project," "plan,""potential," "may," "should," "expect," "pending" and similar expressionsidentify forward-looking statements.The forward-looking statements in this press release are based upon variousassumptions, many of which are based, in turn, upon further assumptions,including without limitation, our management's examination of historicaloperating trends, data contained in our records and other data available fromthird parties. Although we believe that these assumptions were reasonable whenmade, because these assumptions are inherently subject to significantuncertainties and contingencies which are difficult or impossible to predict andare beyond our control, we cannot assure you that we will achieve or accomplishthese expectations, beliefs or projections. We undertake no obligation toupdate any forward-looking statement, whether as a result of new information,future events or otherwise.Important factors that, in our view, could cause actual results to differmaterially from those discussed in the forward-looking statements include thestrength of world economies and currencies, general market conditions, includingfluctuations in charter rates and vessel values, changes in demand in the tankermarket, as a result of changes in OPEC's petroleum production levels and worldwide oil consumption and storage, changes in our operating expenses, includingbunker prices, drydocking and insurance costs, the market for our vessels,availability of financing and refinancing, changes in governmental rules andregulations or actions taken by regulatory authorities, potential liability frompending or future litigation, general domestic and international politicalconditions, potential disruption of shipping routes due to piracy, accidents orpolitical events, vessels breakdowns and instances of off-hire, failure on thepart of a seller to complete a sale to us and other important factors describedfrom time to time in the reports filed by the Company with the Securities andExchange Commission, including the prospectus and related prospectus supplement,our Annual Report on Form 20-F, and our Reports on Form 6-KThe Company has filed a registration statement (including a prospectus) with theSecurities and Exchange Commission (SEC) for the offering to which thiscommunication relates. Before you invest, you should read the prospectus in thatregistration statement, the preliminary prospectus supplement relating to thisoffering and other documents the Company has filed with the SEC for morecomplete information about the Company and this offering. You may get thesedocuments for free by visiting EDGAR on the SEC Web site at www.sec.gov.Alternatively, the Company, any underwriter or any dealer participating in theoffering will arrange to send you the prospectus if you request it by callingtoll-free 1-866- 803-9204. You may also request a copy of these documents bysending an e-mail toir(at)nat.bm or by accessing the Company'swebsite at www.nat.bm and clicking on "Investor Relations."Contacts:Scandic American Shipping LtdManager for:Nordic American Tanker Shipping LimitedP.O Box 56, 3201 Sandefjord, NorwayTel: + 47 33 42 73 00 E-mail:nat(at)scandicamerican.comWeb site: www.nat.bm Rolf Amundsen, Investor RelationsNordic American Tanker Shipping LimitedTel: +1 800 601 9079 or + 47 908 26 906Gary J. WolfeSeward & Kissel LLP, New York, USATel: +1 212 574 1223Turid M. S?sen, CFONordic American Tanker Shipping LimitedTel: + 47 33 42 73 00 or + 47 905 72 927Herbj?Hansson, Chairman and Chief Executive OfficerNordic American Tanker Shipping LimitedTel: +1 866 805 9504 or + 47 901 46 291[HUG#1377826]
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Datum: 27.01.2010 - 09:16 Uhr
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