NEW YORK, June 30, 2015 /PRNewswire/ -- Gener8 Maritime,
Inc. (NYSE: GNRT) ("Gener8 Maritime"), a leading U.S.-based
provider of international seaborne crude oil transportation
services, today announced the completion of its initial public
offering of 15,000,000 shares of common stock at a price to the
public of $14.00 per share. The
underwriters have a 30-day option from June
24, 2015 to purchase up to an additional 2,250,000 shares of
common stock to cover any over-allotments. Gross proceeds from the
offering were approximately $210
million, before deducting underwriting discounts and
commissions and estimated offering expenses.
Citigroup Global Markets Inc., UBS Securities LLC, Jefferies LLC
and Evercore Group L.L.C. acted as joint book-running managers for
the proposed offering. DNB Markets Inc. and Skandinaviska Enskilda
Banken AB (publ) acted as senior co-managers. DVB Capital Markets
LLC, ABN AMRO Securities (USA)
LLC, Axia Capital Markets, LLC and Pareto Securities AS acted as
co-managers.
A registration statement relating to these securities has been
declared effective by the Securities and Exchange Commission.
The offering was made only by means of a prospectus. A copy of the
final prospectus related to the offering was filed with the SEC and
may be obtained by contacting Citigroup Global Markets Inc.,
Attention: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, or by
phone at (800) 831-9146; from UBS Securities LLC, Attn: Prospectus
Department , 1285 Avenue of the Americas, New York, NY 10019, or by phone at (888)
827-7275; from Jefferies LLC, Attention: Equity Syndicate
Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022, or by phone at (877)
547-6340; and from Evercore Group L.L.C., Attention: Equity Capital
Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, or by phone at
(877)-993-2673.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Gener8 Maritime
Gener8 Maritime has a fully-delivered fleet of 46 vessels,
comprised of 21 VLCC newbuildings and 25 vessels on the water
consisting of seven VLCCs, 11 Suezmaxes, four Aframaxes, two
Panamax tankers, and one Handymax tanker, together comprising over
10 million deadweight tons with a market-value weighted average age
of less than 5 years upon delivery of the newbuildings based on
current market values. Gener8 Maritime is incorporated under the
laws of the Marshall Islands and
headquartered in New York.
Forward Looking Statements
This press release contains forward-looking statements, which
are based on management's current expectations and observations.
Included among the important factors that, in our view, could cause
actual results to differ materially from the forward looking
statements contained in this press release are the following: (i)
conditions in the United States
capital markets; (ii) conditions affecting the crude oil
transportation market; (iii) the ability of Gener8 Maritime to fund
and take delivery of its newbuilding vessels; and other factors
listed from time to time under "Risk Factors" and other sections of
our public filings with the SEC including, without limitation,
Gener8 Maritime's registration statement on Form S-1.
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SOURCE Gener8 Maritime