Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Scorpio Tankers Announces Direct Placement For Minimum Of 3.5 Mln Shares

RELATED NEWS
Trade STNG now with 

Scorpio Tankers Inc. (STNG: Quote) said Thursday that it is offering a minimum of 3.5 million shares of its common stock in a registered direct placement at a price of $6.75 per share.

Evercore Group L.L.C. and RS Platou Markets AS are acting as placement agents.

The net proceeds of the offering are expected to be used to partially repay outstanding indebtedness under the company's 2010 revolving credit facility and for general corporate purposes, including vessel acquisitions and working capital.

The company plans to re-draw all or a portion of the amount available under the 2010 revolving credit facility for working capital and general corporate purposes and to fund future vessel acquisitions.

Click here to receive FREE breaking news email alerts for Scorpio Tankers Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that it swung to a second quarter loss, hurt by higher costs and expenses even as revenue surged 47%. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. Kraton Performance Polymers, Inc. (KRA), Wednesday reported second-quarter net income of $11.1 million or $0.33 per share, up from $3.8 million or $0.12 per share last year. Adjusted earnings improved to $0.46 per share from $0.15 per share last year. Revenues for the quarter dropped to $323.8... Organic grocer Whole Foods Market, Inc. said Wednesday after the markets closed that its third quarter profit rose 6.3% from last year, as same-store sales increased 3.9%. The company's quarterly earnings per share also came in above analysts' expectations, but its quarterly sales fell shy of analyst' forecast.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.