Corporate ActionMay 11, 2026, 05:27 PM
International Seaways to Offer Up to $200M in Common Stock
AI Summary
International Seaways, Inc. has entered into a new Equity Distribution Agreement to offer and sell up to $200 million of its common stock through "at the market" offerings. This agreement, made with BTIG, LLC, B. Riley Securities, Inc., Clarksons Securities, Inc., and Fearnleys Securities, Inc. as sales agents, replaces a prior $100 million distribution agreement which was terminated. The company will pay sales agents a commission of up to 3.0% on shares sold, but has not yet sold any shares under the new agreement and had not sold any under the prior one.
Key Highlights
- International Seaways entered into an Equity Distribution Agreement to offer up to $200,000,000 of common stock.
- Sales will be conducted through "at the market" offerings via designated sales agents.
- Sales agents include BTIG, LLC, B. Riley Securities, Inc., Clarksons Securities, Inc., and Fearnleys Securities, Inc.
- Each sales agent will receive a commission of up to 3.0% of the gross sales price of shares sold.
- The company terminated a prior $100,000,000 equity distribution agreement dated December 20, 2023.
- No shares have been sold under the new agreement or the previously terminated agreement.
- International Seaways agreed to reimburse sales agents for certain legal expenses, not exceeding $65,000.
Price Impact
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