London: After announcing a public offering of 12.8m common units in its limited partnership yesterday, Capital Product Partners says the units will each be sold at a price of $9.53.
At this price, the offering will raise around $121.98m for the company, plus an additional $18.3m if underwriters exercise their option to purchase an additional 1.92m shares.
The NASDAQ-quoted company says the new offering will raise money to help refinance its debt.
The offering is expected to close on April 21, CPLP said today.
Shares in the Athens-based company are currently trading at $9.36 per unit, down on its closing price of $9.92 yesterday, when the offering was announced.
The fundraiser comes just over a month after the company cancelled its plans to raise $260m through the bond market, calling the former plan “opportunistic”.
The Athens-based company operates 20 tankers plus two boxships and a capesize bulker.