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OSG - Overseas Shipholding buys back stock worth $15.3M in a private transaction
Overseas Shipholding Group Inc. Class A
2023-08-28 09:01:48 ET
Overseas Shipholding Group ( NYSE: OSG ) said Monday it will repurchase 3.8 million shares of its common stock from entities managed by Cyrus Capital Partners.
The shares will be purchased at $4.05 per share for a total consideration of $15.3 million in a privately negotiated transaction.
The purchase will be made using OSG’s available cash.
The purchase is not part of the previously announced program to purchase up to $20 million of OSG common stock.