Teekay Tankers Announces Pricing of Public Offering of Class A Common Stock at $4.00/Share

Teekay Tankers Ltd.

announced today that it has priced its follow-on public offering of 15,000,000 shares of Class A common stock at $4.00 per share. The offering is expected to close on February 13, 2012, subject to customary closing conditions. Teekay Tankers has granted the underwriters a 30-day option to purchase up to an additional 2,250,000 shares 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.