Crowley Maritime Corporation has successfully raised gross proceeds of $200 million through the sale of 200,000 shares of Series A Income Preferred Securities. The company intends to use the net proceeds from this offering in connection with its new vessel build program as well as for general corporate purposes.
“ We are very pleased to have concluded this important transaction for the company, especially as it offers a new source of capital to pursue our growth plans, ” said Crowley’s Chairman, President and CEO Tom Crowley.
DNB Markets acted as exclusive financial advisor to Crowley. DNB Markets and Incapital acted as joint book-running managers for the offering.
Related:
Aker Philadelphia Shipyard – Crowley Partnership Extended
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Press Release, October 24, 2013