secwatch.observer — SEC 8-K summary
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Issuer:     International Seaways, Inc. (INSW)
CIK:        0001679049
Form:       8-K
Filed at:   2023-04-11T23:59:59+00:00
Accession:  0001104659-23-044094
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

International Seaways amends poison pill; raises trigger to 20%, extends to 2026
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- Amended and restated Rights Agreement increases Acquiring Person threshold from 17.5% to 20%.
- Final Expiration Date extended from May 7, 2023 to April 10, 2026.
- Purchase Price per Right increased from $25 to $50.
- Added qualifying offer provision with shareholder redemption feature for tender offers open 90+ business days.
- Original rights plan adopted May 2022 after competitor Famatown disclosed 16.19% stake.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1679049/000110465923044094/0001104659-23-044094-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1679049/000110465923044094/tm2312142d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-044094

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer