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Tue 26 Jan 2010, 06:30 GMT

Aegean announces exercise of option to buy additional shares


Underwriters exercise option to purchase additional common shares.

International bunker and marine lubricants supplier Aegean Marine Petroleum Network Inc. has announced that in connection with its previously announced public offering of 3,906,000 common shares, the underwriters have exercised in full their option to purchase an additional 585,900 common shares at the public offering price of $32.75 per share less the underwriting discount.

The exercise of the option brings the total shares of common stock to be sold by the Company in the offering to 4,491,900 shares. The completion of the offering is expected to take place on Wednesday, January 27, 2010.

As previously announced, the company says it intends to use the net proceeds from the sale of the 4,491,900 shares for 'certain corporate acquisitions' and for general corporate purposes.

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

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