Diamond S Shipping Inc. announced today the pricing of an underwritten secondary offering of 4,021,604 of the Company’s common shares by funds affiliated with First Reserve and 660,870 of the Company’s common shares by funds affiliated with WL Ross & Co. LLC, as the selling shareholders, at a public offering price of $13.75. The selling shareholders granted the underwriter a 30-day option to purchase up to an additional 702,371 common shares in the aggregate. The offering is expected to close on or about November 25, 2019, subject to the satisfaction of customary closing conditions. The Company will not receive any proceeds from the sale of the common shares by the selling shareholders in this offering.
Pareto Securities is acting as the sole underwriter of the offering.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. The offering is being made pursuant to an effective registration statement on Form S-1, as amended, filed with the Securities and Exchange Commission (“SEC”). The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained on the website of the SEC, www.sec.gov, or from Pareto Securities Inc., 150 East 52nd Street, 29th Floor, New York, NY 10022, USA, or by telephone at +47 22 87 87 50.
About Diamond S Shipping Inc.
Diamond S Shipping Inc. (NYSE: DSSI) owns and operates 66 vessels on the water, including 15 Suezmax vessels, one Aframax and 50 medium-range (MR) product tankers. Diamond S is one of the largest energy shipping companies providing seaborne transportation of crude oil, refined petroleum and other petroleum products. The Company is headquartered in Greenwich, CT.