International Seaways acquires one MR Product Carrier, issues 102,677 shares in private placement

International Seaways, Inc.

Acquired one of six previously announced MR Product Carriers; total consideration for all six is ~$232M (85% cash, 15% stock).
Purchase paid with cash plus 102,677 shares of common stock issued as a private placement to an accredited investor under Section 4(a)(2).
Shares subsequently registered for resale via Form S-3 (File No. 333-278975) with prospectus supplement dated May 15, 2024.
Vessel deliveries expected by end of Q2 2024; closing conditions remain customary.

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