- NNA throws a curveball with a backstop-type offering, around 35M in new shares @ $2.85/sh toraise ~$100M. I'm guessing a portion will be used to for debt pay-down/vessel impairment,and some for new vessels (at least, down-payments for newbuilds)- TNK announced results today (1/21) with the company taking a significant impairment charge.The more intriguing item though, IMO, is the switch to a fixed dividend. That eliminates thewhole upside potential that TNK used to have when the stock price got pummeled.
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