HAMILTON, Bermuda, Aug. 20, 2021 /PRNewswire/ -- Ardmore Shipping
Corporation (NYSE: ASC) ("Ardmore" or the "Company") today
announced that the Company has completed its annual review of its
securities filings. As a part of this process, the Company has
filed with the Securities and Exchange Commission ("SEC") a shelf
registration statement on Form F-3 (the "Registration Statement")
registering $400 million of primary
securities, as well as the shares issued to Element 1 Corp. as part
of the recent investment by Ardmore, and a prospectus supplement
for an at-the-market ("ATM") program and has entered into an open
market sale agreement pursuant to which the Company may offer and
sell common shares of up to an aggregate sales amount of
$50 million, which will replace the
Company's existing shelf registration statement filed in
August 2018 (File Number: 333-227129)
and the Company's existing ATM program, respectively, which expire
on October 5, 2021.
Any shares offered and sold by the Company under the ATM program
and Registration Statement will be issued pursuant to the
Registration Statement and the sales agreement prospectus
supplement that forms a part of such Registration Statement,
following such time as the Registration Statement is declared
effective by the SEC.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction.
About Ardmore Shipping Corporation:
Ardmore owns and
operates a fleet of MR product and chemical tankers ranging from
25,000 to 50,000 deadweight tonnes. Ardmore provides seaborne
transportation of petroleum products and chemicals worldwide to oil
majors, national oil companies, oil and chemical traders, and
chemical companies, with its modern, fuel-efficient fleet of
mid-size tankers.
Ardmore's core strategy is to continue to develop a modern,
high-quality fleet of product and chemical tankers, build key
long-term commercial relationships and maintain its cost advantage
in assets, operations and overhead, while creating synergies and
economies of scale as the company grows. Ardmore provides its
services to customers through voyage charters, commercial pools,
and time charters, and enjoys close working relationships with key
commercial and technical management partners.
Ardmore's Energy Transition Plan ("ETP") focuses on three key
areas: transition technologies, transition projects, and
sustainable (non-fossil fuel) cargos. The ETP is an extension of
Ardmore's strategy, building on its core strengths of tanker
chartering, shipping operations, technical and operational fuel
efficiency improvements, technical management, construction
supervision, project management, investment analysis, and ship
finance. Ardmore has established Ardmore Ventures as Ardmore's
holding company for existing and future potential investments
related to the Energy Transition Plan and completed its first
projects under the ETP in June
2021.
Investor Relations Enquiries:
Mr. Leon Berman
The IGB Group
45 Broadway, Suite 1150
New York, NY 10006
Tel: 212-477-8438
Fax: 212-477-8636
Email: lberman@igbir.com
Or
Mr. Bryan Degnan
The IGB Group
Tel: 646-673-9701
Email: bdegnan@igbir.com
Forward-Looking Statements
The statements in this
press release that are not historical facts may be forward-looking
statements, including statements about: the Company's future
financing activities, including the Company's plans regarding
capital raising, and the Company's acquisition strategy. These
forward-looking statements involve risks and uncertainties that
could cause the outcome to be materially different. These risks and
uncertainties include, among others, changes in the Company's
capital requirements, changes in the Company's ability to execute
its acquisition strategy and those discussed in Ardmore's public
filings with the U.S. Securities and Exchange Commission. Ardmore
undertakes no obligation to revise or update any forward-looking
statements unless required to do so under the securities laws.
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SOURCE Ardmore Shipping Corporation