In a statement the New York-quoted operator announced plans to sell 20 million shares of Class A common stock in a public offering.
In addition to an option that will allow underwriters to pick up another 3 million shares the owner noted Teekay Corp intends to purchase $20m worth of stock.
While Teekay plans to apply proceeds towards the acquisition of tonnage that carries a $230m price tag it said some of the earnings may be used to fund further expansion.
The
