Diana Shipping Inc. Announces Extension and Increase of Tender Offer for Shares of Common Stock
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that the Company is amending its previously announced tender offer to purchase up to 1,408,450 shares of its outstanding common stock at a price of $3.55 per share. Under the amended terms, the Company is now offering to purchase up to 2,816,900 shares of its common stock at the same price of $3.55 per share. The Company is also extending the expiration date of the tender offer. The tender offer, which was previously set to expire at 5:00 P.M., Eastern Time, on October 4, 2019, is now set to expire at 11:59 P.M., Eastern Time, on October 11, 2019, unless further extended or withdrawn. The tender offer otherwise remains subject to all previously announced terms and conditions.
Computershare Trust Company, N.A., the depositary for the Offer, has advised the Company that as of the close of business, New York City time, on September 27, 2019, the last business day prior to the announcement of the extension of the Offer, 1,937,943.1053 shares have been validly tendered pursuant to the Offer and not properly withdrawn.
Stockholders who have previously validly tendered and not withdrawn their shares do not need to re-tender their shares or take any other action in response to the extension of the Offer. The terms and conditions of the Offer, prior to the amendment described in this release, were set forth in the Company’s “Offer to Purchase” dated September 6, 2019 (as amended by Supplement No. 1 to the Offer to Purchase dated September 12, 2019) and “Letter of Transmittal” dated September 6, 2019, and the other related materials that the Company distributed to stockholders, which were filed with the Securities and Exchange Commission (“SEC”) as exhibits to the Company’s Schedule TO on September 6, 2019 (as amended by Amendment No. 1 to the Schedule TO dated September 12, 2019).
Diana Shipping Inc. retained Computershare Trust Company, N.A. as the depositary for the Offer and Georgeson LLC as the information agent.
Source: Diana Shipping Inc.