2012-02-14 02:40:13 -
New York, NY - February 13, 2012 - Overseas Shipholding Group, Inc. ("OSG" or
the "Company") (NYSE: OSG), a market leader in providing energy transportation
services, announced that the Company today filed a Form S-3 registration
statement with the U.S. Securities and Exchange Commission (the "SEC"). The
shelf registration statement, when declared effective by the SEC, will allow OSG
to offer and sell from time to time, in one or more offerings, common stock,
preferred stock, debt securities, warrants, units or any combination thereof
with a maximum aggregate offering price of $500 million. The terms of any such
offerings will be established at the time of the offering, will be subject to
market conditions and will be described in a supplement to the prospectus issued
as part of the filed Form S-3. OSG has filed this shelf registration statement
to expedite the issuance process associated with any future offerings made
thereunder. The Company has no current intention to issue securities
immediately thereunder.
This press release is neither an offer to sell nor a solicitation of an offer to
buy the Company's securities and shall not constitute an offer, solicitation or
sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
Any offers, solicitation of offers to buy, or sales of securities will only be
made pursuant to the registration statement filed with and declared effective by
the SEC, including the prospectus and the related prospectus supplement or
supplements.
Forward-Looking Statement
Any statements in this press release about future plans, intentions, or
expectations, including statements about the use of the shelf registration
statement and the possible offering of securities by OSG, are "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Actual events may differ materially from those indicated by such
forward-looking statements as a result of various important factors, risks and
uncertainties, many of which are beyond the control of OSG. Among the factors
that could affect OSG's use of the registration statement and any offering of
securities are financial market conditions, OSG's financial results,
competition, market demand and general economic conditions. Forward looking
statements in this press release are qualified in their entirety by cautionary
statements contained in any prospectus (including the shelf registration
statement) and any prospectus supplement relating to securities offered by OSG
and in reports hereafter filed by OSG with the SEC.
# # #
About OSG
Overseas Shipholding Group, Inc. (NYSE: OSG), a Dow Jones Transportation Index
company, is one of the largest publicly traded tanker companies in the world.
As a market leader in global energy transportation services for crude oil and
petroleum products in the U.S. and International Flag markets, OSG is committed
to setting high standards of excellence for its quality, safety and
environmental programs. OSG is recognized as one of the world's most customer-
focused marine transportation companies and is headquartered in New York City,
NY. More information is available at www.osg.com.
Contact
John Collins, Vice President Investor Relations, OSG Ship Management, Inc.,
+1 212-578-1699.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Overseas Shipholding Group via Thomson Reuters ONE
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