Simpson Thacher Represents Underwriters in Initial Public Offering of Nordic American Offshore
06.26.14
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Simpson Thacher recently represented the underwriters, led by Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and DNB Markets, Inc., in the initial public offering by Nordic American Offshore Ltd. of 6,764,704 of its common shares, including 882,352 common shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares. The offering raised gross proceeds of approximately $108.2 million. Nordic American Offshore’s common shares are listed on the New York Stock Exchange under the ticker symbol “NAO”.
Nordic American Offshore is an international platform supply vessel company with an initial fleet of six vessels operating in the North Sea. Four new vessels are scheduled to be delivered in 2015. In November 2013, Nordic American Offshore completed a private placement of its common shares in Norway, which currently trade on the Norwegian OTC list.
The Simpson Thacher team included Lesley Peng, Jo Djekovic and Jim Russell (Capital Markets); Jonathan Cantor and Drew Purcell (Tax); Jamin Koslowe and Doug Tang (Executive Compensation and Employee Benefits); Michael Isby (Environmental); and Jennie Getsin (FINRA and Blue Sky).