PIRAEUS, Greece, Jan. 13, 2015 /PRNewswire/ -- Aegean Marine
Petroleum Network Inc. (NYSE: ANW) (the "Company") announced today
that it has upsized and priced its previously announced registered
public offering of additional 4.00% Convertible Senior Notes due
2018 (the "new notes"). The size of the offering has been increased
from $40.0 million in aggregate
principal amount of the new notes to $42.0
million in aggregate principal amount of the new notes, and
has priced at 111.0%, plus accrued interest, if any, from
November 1, 2014. The new notes
are expected to have the same terms as, be fungible with, and form
a single series with, $86.25 million aggregate principal
amount of the Company's 4.00% Convertible Senior Notes due 2018
that were issued in October 2013, all
of which remain outstanding. Upon conversion, noteholders will
receive cash, shares of the Company's common stock or a combination
of cash and shares of the Company's common stock, at the Company's
election. The Company expects to use the net proceeds
from the sale of the new notes for working capital required to fund
its expansion into existing and new markets. The Company has
granted the underwriters a 30-day option to purchase an additional
$6.3 million in aggregate principal
amount of the new notes.
The offering is expected to close on January 16, 2015, subject to the satisfaction of
certain customary closing conditions.
Jefferies LLC is acting as sole book-running manager for
the offering. ABN AMRO, Clarkson
Capital Markets LLC and Stifel are acting as co-managers of the
offering.
The offering may be made only by means of a prospectus
supplement and accompanying base prospectus. When available,
copies of the prospectus supplement and accompanying base
prospectus related to the offering may be obtained
from Jefferies LLC (Attn: Equity Syndicate
Prospectus Department), 520 Madison Avenue, 2nd
Floor, New York, New York 10022, Phone: 1-877-547-6340,
Email: Prospectus_Department@Jefferies.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. A shelf registration
statement relating to the new notes was filed with the U.S.
Securities and Exchange Commission and is effective.
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SOURCE Aegean Marine Petroleum Network Inc.