General Maritime Corporation Announces Launch of Common Stock Offering Under Shelf Registration Statement
NEW YORK, June 14, 2010 /PRNewswire via COMTEX/ --General Maritime Corporation ("General Maritime" or the "Company") (NYSE: GMR) announced today the commencement of a public offering of primary shares of its common stock. General Maritime expects to offer approximately 25,500,000 shares of common stock pursuant to the Company's existing shelf registration statement. The Company also expects to grant the underwriters the option to purchase an additional 15% of the total shares of common stock offered. The Company intends to use all of the net proceeds from the offering to fund a portion of the purchase price for its previously announced acquisition of seven tankers.
This offering is being made only by means of a prospectus and related prospectus supplement. A copy of the preliminary prospectus supplement, together with the prospectus, has been filed with the U.S. Securities and Exchange Commission and is available on the SEC's website, www.sec.gov. Goldman, Sachs & Co., Dahlman Rose & Company, LLC, Jefferies & Company, Inc. and J.P. Morgan Securities Inc. will act as bookrunners and Credit Suisse Securities (USA) LLC, DnB NOR Markets, Inc., Wells Fargo Securities, LLC, Fearnley Fonds ASA and RS Platou Markets AS will act as co-managers in the offering.
The preliminary prospectus supplement and related prospectus may also be obtained by contacting:
200 West Street
New York, NY 10282-2198
Attention: Prospectus Department
prospectus-ny@ny.email.gs.com
Tel: 866-471-2526
or
Dahlman Rose & Co.
142 West 57th Street
New York, NY 10019
Attention: Prospectus Department
prospectus@dahlmanrose.com
or
Jefferies & Company, Inc.
520 Madison Avenue, 12th Floor, Syndicate Middle Office
New York, NY 10022
Attention: Stephen M. Ficara
Sficara@Jefferies.com
Tel: 212-284-3418
or
J.P. Morgan Securities Inc.
1155 Long Island Avenue
Edgewood, NY 11717
Attention: Broadridge Financial Solutions
Tel: 866-803-9204
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction. The shares will be offered only by means of a prospectus, including the prospectus supplement relating to the shares, meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
About General Maritime Corporation
General Maritime Corporation is a leading provider of international seaborne crude oil transportation services. General Maritime also provides transportation services for refined petroleum products. General Maritime's vessels operate principally within the Atlantic basin, which includes ports in the Caribbean, South and Central America, the United States, West Africa, the Mediterranean, Europe and the North Sea. General Maritime also currently operates tankers in other regions including the Black Sea and Far East. Currently, General Maritime owns a fully double-hull fleet of 31 tankers - two VLCCs, eleven Suezmax tankers, twelve Aframax, two Panamax and four Handymax product tankers - with a total carrying capacity of approximately 4.0 million dwt.
General Maritime Corp. press release