ATHENS, GREECE â December 9, 2013 â StealthGas Inc. (the âCompanyâ) (NASDAQ: GASS) announced today an underwritten public offering of 10,000,000 shares of its common stock pursuant to the Companyâs effective shelf registration statement filed with the Securities and Exchange Commission. Â In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase up to 1,500,000 additional shares of its common stock.The Company intends to use the net proceeds of the offering for vessel acquisitions, capital expenditures and other general corporate purposes.
Wells Fargo Securities, Deutsche Bank Securities and Jefferies are acting as joint book-running managers for this offering.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About StealthGas Inc.
Headquartered in Athens, Greece, StealthGas Inc. is a ship-owning company primarily serving the liquefied petroleum gas (âLPGâ) sector of the international shipping industry. StealthGas Inc. currently has a fleet of 38 LPG carriers with a total capacity of 182,322 cubic meters, three medium range product tankers and one Aframax oil tanker with a total capacity of 255,804 deadweight tons. The Company has agreed to acquire 15 newbuilding LPG carriers, with expected deliveries in 2014 and 2015.Â Once the acquisition of the 15 LPG carriers is completed and the vessels are delivered, StealthGas Inc.âs LPG carrier fleet will be composed of 53 LPG carriers with a total capacity of 257,922 cubic meters. StealthGas Inc.âs shares are listed on the NASDAQ Global Select Market and trade under the symbol âGASSâ.
This press release contains âforward-looking statements.âÂ In some cases, you can identify these statements by forward-looking words such as âbelieveâ, âintendâ, âanticipateâ, âestimateâ, âprojectâ, âforecastâ, âplanâ, âpotentialâ, âmayâ, âshouldâ, âcouldâ and âexpectâ and similar expressions.Â These statements are not historical facts but instead represent only the Companyâs belief regarding future results, many of which, by their nature, are inherently uncertain and outside of the Companyâs control.Â It is possible that actual results may differ, possibly materially, from those anticipated in these forward-looking statements.Â For a discussion of some of the risks and important factors that could affect future results, see the discussion in the Companyâs Annual Report on Form 20-F (File No. 000-51559) under the caption âRisk Factors.â
Chief Executive Officer