Navigator Holdings (NVGS) has released an update.
Navigator Holdings Ltd. has upsized and priced a secondary public offering of 7 million shares at $15 each, offered by BW Group Limited, with an expected closing date of June 13, 2024. The company will not receive any proceeds from this offering but intends to repurchase half of the offered shares at a discounted price of $14.52 per share, using cash on hand. This repurchase is dependent on the completion of the secondary offering, which is being managed by Citigroup and DNB Markets, Inc.
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