Dorian LPG Ltd. Announces Public Offering of Common Shares
06 June 2024 - 6:23AM
Business Wire
Dorian LPG Ltd. (NYSE: LPG) (the "Company”, “Dorian LPG”, “we”,
“us” and “our”) announced today that it intends to offer, issue and
sell to the public 2,000,000 shares of its common stock, par value
$0.01 per share (“Common Shares”), through an underwritten public
offering (the “Offering”). The net proceeds of the Offering are
expected to be used for general corporate purposes.
The Company also intends to grant the underwriters a 30-day
option to purchase up to an additional 300,000 Common Shares.
Jefferies is acting as lead bookrunning manager for the
Offering. SEB is also acting as a joint bookrunning manager for the
Offering.
The Offering is being made only by means of a prospectus
supplement and accompanying base prospectus. A registration
statement relating to these securities was filed with the U.S.
Securities and Exchange Commission (the “SEC”) and declared
effective by the SEC on August 22, 2022. A prospectus supplement
related to the Offering will be filed with the SEC. You may obtain
these documents for free, once available, by visiting EDGAR on the
SEC website at sec.gov. Alternatively, a copy may be obtained from
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, New York, New York 10022, by telephone at
877-821-7388, or by email at
prospectus_department@jefferies.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities, in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or other jurisdiction.
About Dorian LPG Ltd.
Dorian LPG is a leading owner and operator of modern Very Large
Gas Carriers (“VLGCs”) that transport liquefied petroleum gas
globally. Our fleet currently consists of twenty-five modern VLGCs,
including twenty ECO VLGCs and four dual-fuel ECO VLGCs. Dorian LPG
has offices in Stamford, Connecticut, USA; Copenhagen, Denmark; and
Athens, Greece.
Forward-Looking Statements
Matters discussed in this press release may constitute
“forward-looking statements”. The Private Securities Litigation
Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business. Statements
that are predictive in nature, that depend upon or refer to future
events or conditions, or that include words such as “expects,”
“anticipates,” “intends,” “plans,” “believes,” “estimates,”
“projects,” “forecasts,” “may,” “will,” “should” and similar
expressions are forward-looking statements. These statements are
not historical facts but instead represent only the Company’s
current expectations and observations regarding future results,
many of which, by their nature are inherently uncertain and outside
of the Company’s control. Where the Company expresses an
expectation or belief as to future events or results, such
expectation or belief is expressed in good faith and believed to
have a reasonable basis. However, the Company’s forward-looking
statements are subject to risks, uncertainties, and other factors,
which could cause actual results to differ materially from future
results expressed, projected, or implied by those forward-looking
statements. The Company’s actual results may differ, possibly
materially, from those anticipated in these forward-looking
statements as a result of certain factors, including changes in the
Company’s financial resources and operational capabilities and as a
result of certain other factors listed from time to time in the
Company’s filings with the SEC. For more information about risks
and uncertainties associated with Dorian LPG’s business, please
refer to the “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” and “Risk Factors” sections of
Dorian LPG’s SEC filings, including, but not limited to, its annual
report on Form 10-K and quarterly reports on Form 10-Q. The Company
does not assume any obligation to update the information contained
in this press release.
Source: Dorian LPG Ltd.
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version on businesswire.com: https://www.businesswire.com/news/home/20240605904451/en/
Ted Young Chief Financial Officer +1 (203) 674-9900
IR@dorianlpg.com
Dorian LPG (NYSE:LPG)
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