Earlier this month, I wrote about a deal reached by Nordic American Offshore (NAO), its creditors and shareholder Scorpio Offshore. The company has published the details of the deal, so investors and traders now have more details on the dilution and fleet composition. Here’s the news:
1.) As previously disclosed, Scorpio Offshore committed 13 vessels. In exchange, it received 8,126,219 common shares at $2.7774 per share, materially below the price of Nordic American Offshore shares after the initial announcement of the deal. Scorpio got almost the lowest price on the chart:
2.) Scorpio