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Scorpio Tankers Inc.
STNG announced today that it is
offering a minimum of 3.5 million shares of its common stock in a
registered direct placement at a price of $6.75 per share, for which
Evercore Group L.L.C. and RS Platou Markets AS are acting as
placement agents. The activities of RS Platou Markets AS in the
United States will be effected only to the extent permitted by Rule
15a-6 under the Securities Exchange Act of 1934, as amended. The net
proceeds of the offering are expected to be used to partially repay
outstanding indebtedness under the Company's 2010 Revolving Credit
Facility and for general
corporate purposes, including vessel acquisitions and working
capital. The Company intends to re-draw all or a portion of the
amount available under the 2010 Revolving Credit Facility for working
capital and general corporate purposes and to fund future vessel
acquisitions.
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