2023-08-28 09:01:48 ET
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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.
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The shares will be purchased at $4.05 per share for a total consideration of $15.3 million in a privately negotiated transaction.
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The purchase will be made using OSG’s available cash.
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The purchase is not part of the previously announced program to purchase up to $20 million of OSG common stock.
For further details see:
Overseas Shipholding buys back stock worth $15.3M in a private transaction