Scorpio Tankers announces intention to establish a $100 mln at the market share issuance program
Scorpio Tankers Inc. intends to establish an “at the market” offering program pursuant to which the Company may sell up to $100 million of its common shares, par value $0.01 per share, the company said in its release. The Company expects to enter into an equity distribution agreement with a sales agent that has been identified by the Company, pursuant to which sales of the Company’s common shares may be made from time to time in transactions by means of ordinary broker transactions through the New York Stock Exchange or in negotiated transactions at market prices prevailing at the time of sale or as otherwise negotiated prices, or as otherwise agreed with the sales agent.
Sales of the Company’s common shares under the Program, if any, will be made pursuant to the Company’s effective shelf registration statement on Form F-3 (File No. 333-230469) by means of a prospectus supplement to be filed by the Company. The Company intends to use the net proceeds from any sales under the Program for general corporate and working capital purposes.
About Scorpio Tankers Inc.
Scorpio Tankers is a provider of marine transportation of petroleum products worldwide. The Company currently owns or finance leases 109 product tankers (38 LR2 tankers, 12 LR1 tankers, 45 MR tankers and 14 Handymax tankers) with an average age of 4.1 years and time or bareboat charters-in 10 product tankers (three MR tankers and seven Handymax tankers). These figures do not include the acquisition of 19 additional vessels by the Company previously announced on September 23, 2019.
