Herbjorn Hansson-led Nordic American Offshore has increased the size of a share offering that could see the company pick up $57.5m in gross proceeds as it seeks to tackle loan defaults.
NAO's share price plunged 44.1% in morning trading to $1.17, below the offering price of $1.25.
The New York-listed offshore vessel owner said that has upsized the public portion of the offering to 40 million shares after announcing
