International Seaways enters $100M ATM equity program with Evercore and Jefferies

International Seaways, Inc.

Up to $100M of common stock may be sold 'at the market' through Evercore Group and Jefferies as sales agents.
Sales agents receive commission of up to 3.0% of gross proceeds from any shares sold.
No shares have been sold yet; the company is in a trading blackout until at least March 1, 2024.
Program is authorized under a new Equity Distribution Agreement filed as Exhibit 1.1 to the 8-K.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

International Seaways, Inc. entered into Equity Distribution Agreement with Evercore Group L.L.C. and Jefferies LLC valued at up to $100,000,000 (effective 2023-12-20).

Action: entry
Agreement: atm program
Counterparty: Evercore Group L.L.C. and Jefferies LLC
Value: up to $100,000,000
Effective: 2023-12-20

Exact text from the filing

On December 20, 2023, International Seaways, Inc. (the “ Company ”) updated and renewed its “at the market” offering program in connection with general corporate housekeeping and entered into an Equity Distribution Agreement (the “ Distribution Agreement ”) with Evercore Group L.L.C. and Jefferies LLC, as sales agents (the “ Sales Agents ”), to issue and sell through or to the Sales Agents, from time to time, shares of its Common Stock, no par value (the “ Common Stock ”), in “at the market” offerings having an aggregate gross sales price of up to $100,000,000.

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International Seaways, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-127775

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