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Wed 20 Jan 2010 00:02

Aegean announces proposed share offering


Supplier intends to offer 3.9 million shares of its common stock to fund acquisitions.

International bunker and lubricants supplier Aegean Marine Petroleum Network Inc. has announced that it intends to offer, subject to market and other conditions, 3,906,000 shares of its common stock in an underwritten public offering under an effective shelf registration statement on file with the Securities and Exchange Commission.

Goldman, Sachs & Co. and Jefferies & Company, Inc. will serve as joint book-running managers and BB&T Capital Markets, Dahlman Rose & Company, Clarkson Johnson Rice, Lazard Capital Markets, and Stephens Inc. will serve as co-managers for the offering.

The underwriters will have a 30-day option to purchase up to an additional 585,900 shares of common stock offered by the company.

In a statement, Aegean said that it intends to use the net proceeds from the offering to fund certain corporate acquisitions and for general corporate purposes.

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