Oceanfreight completes IPO, begins trading
OceanFreight Inc., a Greek shipping company that went public on Wednesday, said its initial public offering of 10.75 million shares of common stock is priced at $19 per share.
In addition OceanFreight has granted the underwriters a 30-day option to purchase up to an additional 1.6 million shares to cover overallotments.
The company intends to use net proceeds of the offering to fund a portion of the acquisition price of the company’s initial fleet of seven drybulk carriers — six Panamax drybulk carriers and one Capesize drybulk carrier — and for general corporate purposes.
The common stock will be listed on the Nasdaq Global Market System under the symbol OCNF and began trading today.
