Scorpio Tankers Inc. Announces Pricing of Public Offering of 20 Million Shares of Common Stock

Scorpio Tankers Inc. announced yesterday that it has priced its previously announced underwritten public offering of 20 million shares of its common stock at $9.50 per share. The offering is expected to close on August 5, 2013. UBS Securities LLC is acting as sole book-running manager in the offering, RS Platou Markets AS is acting as joint lead manager and Global Hunter Securities, LLC is acting as co-manager. The Company has also granted the underwriters a 30-day option to purchase up to 3 million additional shares of common stock to cover over-allotments. The net proceeds of this offering are expected to be used for product tanker vessel and LPG carrier acquisitions, working capital and other general corporate purposes.
The Company's common shares trade on the New York Stock Exchange under the symbol "STNG."
Source: Scorpio Tankers Inc.