The New York-listed operator’s stock slid 6.42% to $27.97 on the heels of an announcement in which management outlined plans to sell 4.6 million common units at $28.43 a piece.
In the same statement KNOT confirmed that the underwriters of the offering were granted a 30-day option to buy up to 690,000 additional units, which means proceeds could top $150m.
If all goes according to plan the company intends to apply the cash towards the purchase of two shuttle tankers from its sponsor, Knutsen NYK Offshore Tankers.
“If
