KNOT Offshore Partners has launched a share offering to raise cash that could potentially be used for acquisitions.
The New York-listed shuttle tanker owner, a spinoff of Norway's Knutsen NYK Offshore Tankers, said it plans to sell 2.5 million shares in the public portion of the offering.
Underwriters will then have options to buy up to 375,000 additional shares.
The company said the offering has priced at a level that will bring in gross proceeds of about $56.1m
