International Seaways acquires two MR product carriers; issues 217k shares in partial closing of six-vessel deal

International Seaways, Inc.

Acquired two MR Product Carriers (built 2014/2015) on Apr 29 and May 1, 2024, as partial closing of previously announced six-vessel purchase.
Total six-vessel consideration ~$232M, payable 85% cash and 15% stock; 217,088 shares issued for these two vessels.
Shares issued as private placement to accredited investor under Section 4(a)(2); registered for resale via S-3 prospectus supplement.
Remaining four MR carriers expected to be delivered by end of Q2 2024 subject to customary closing conditions.

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