Overseas Shipholding Group completes 3.5M share offer; collects $158.7 million in proceeds
By APTuesday, March 9, 2010
Overseas Shipholding completes 3.5M share offer
NEW YORK — Oil tanker operator Overseas Shipholding Group Inc. said Tuesday it has collected $158.7 million in proceeds from its offering of 3.5 million common shares at $45.33 each.
Overseas Shipholding Group said it will use the funds for capital expenditures and working capital. The company also said it might use a portion to pay off debt.
Shares fell 66 cents to close at $44.04.
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