TheGreek LNG carrier operator on Tuesday announced plans to sell 12.5 millioncommon units in the range of $19.00 to $21.00 a piece.
If allgoes according to plan company said it intends to list on the Nasdaq GlobalSelect Market under the ticker “DLNG”.
According to a prospectus filed with theUS Securities and Exchange Commission, proceeds will be used to repay debt andfor working capital.
Once it firms up a freshly minted senior securedrevolving credit facility the operator says it will have approximately $57.5mto apply towards vessel acquisitions.
The IPO is backed by Credit Suisse, BofAMerrill Lynch, Morgan Stanley, Barclays and Deutsche Bank, which are listed asjoint book-running managers, while ABN AMRO and Credit Agricole were hired to serveas co-managers.
Dynagas is led by George Procopiou and based in Athens where it oversees a fleet of three LNGcarriers each with a carrying capacity of around 150,000-dwt in addition to aseries of newbuildings it intends to employ on multi-year time charters.
You can read Dynagas’ updated IPO prospectus infull by clicking on the link located under the Related Media section to theright of this article
