Market Overview

Teekay Tankers Ltd. Announces Public Offering of 15M Shares

Teekay Tankers Ltd. (NYSE: TNK) announced today that it plans to offer 15,000,000 shares of Class A common stock of the Company in a public offering. Teekay Tankers expects to grant the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of Class A common stock to cover any over-allotments. The Company expects to use the net offering proceeds to repay a portion of its outstanding debt under its revolving credit facility.

Posted-In: News Offerings

 

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